Google Sheets Accrued Interest Formula and Calculator

Google Sheets has no built-in function named ACCRINT or ACCRUEDINTEREST, but you can calculate accrued interest with a formula once you know the principal, annual rate, elapsed days, and day-count convention. The calculator below estimates simple interest; enter those values to see the interest accrued and the balance including that interest.

Formula

The calculator uses the simple-interest formula: accrued interest = principal × annual rate × elapsed days ÷ day-count basis. In symbols, I = P × (R / 100) × D / B. The percentage is divided by 100 to convert it to a decimal.

• I is accrued interest in dollars.
• P is the principal in dollars—the amount on which interest is calculated.
• R is the annual interest rate, entered as a percentage.
• D is the number of elapsed days.
• B is the day-count basis: 360, 365, or 366 days per year, as applicable to the calculation.

The second result is P + I, the principal plus the accrued interest. It is not necessarily the payoff amount: fees, payments, compounding, payment dates, and contract-specific rules may change what is owed.

Worked Example

Using the calculator’s defaults—$10,000 principal, 6% annual interest, 90 days, and a 365-day basis:

1. Convert the annual rate to decimal form: 6 ÷ 100 = 0.06.
2. Multiply principal by the rate: $10,000 × 0.06 = $600 of interest for a 365-day year.
3. Prorate for 90 days: $600 × 90 ÷ 365 = $147.9452…
4. Round to cents: accrued interest is $147.95.
5. Add it to the principal: $10,000 + $147.95 = $10,147.95.

How to Calculate Accrued Interest in Google Sheets

For a basic calculation, put principal in cell A2, annual rate as a percentage in B2, elapsed days in C2, and the day-count basis in D2. For example, enter 6% in B2, not 6, if you use the percentage-cell formula below.

• If B2 contains a percentage value such as 6%, use =A2*B2*C2/D2.
• If B2 contains the number 6 to represent 6%, use =A2*(B2/100)*C2/D2.
• To show a dollar result rounded to cents, use =ROUND(A2*B2*C2/D2,2) for the percentage-cell version.
• To calculate principal plus interest, add the principal cell to the interest formula, such as =A2+ROUND(A2*B2*C2/D2,2).

These formulas assume simple interest on a fixed principal and a constant annual rate. In Sheets, a percentage-formatted cell stores the rate as a decimal, so 6% is used as 0.06 in arithmetic. Entering 6 in a general-format cell instead requires dividing by 100. Mixing those formats is a common cause of a result that is 100 times too large or too small.

Choosing the Day-Count Basis

The denominator matters. A 365-day basis divides annual interest across 365 days; a 360-day basis uses 360. Some calculations use actual calendar days and a year convention specified by the instrument. Leap years can also affect a calculation when the applicable basis uses 366 days. There is no single basis that applies to every deposit, loan, bond, or other financial agreement.

Use the convention stated in the account terms, contract, or calculation instructions rather than choosing a basis simply because it gives a preferred result. If you are checking a statement, confirm both the days counted and the annualization method. Counting whether the start date, end date, or both are included can change the day total by one.

What This Calculation Does—and Does Not—Show

Accrued interest is interest accumulated over a period, whether or not it has yet been paid. The calculator estimates that amount using a constant principal and rate. It does not identify the correct rate or day-count method for a particular account; those are inputs that must come from the relevant terms or statement.

Simple interest is not the same as compound interest. With compounding, interest already added to the balance may itself earn interest. A simple-interest result may therefore differ from an account’s posted balance or a lender’s accrued-interest figure, especially over a long period or where balances change.

For a more involved calculation, you may need separate rows for each period, a changing principal balance, exact dates, irregular payments, or a schedule of rate changes. A spreadsheet can calculate those cases, but a single multiplication formula cannot represent every contract’s rules. When matching an official balance, use the institution’s stated method and ask for a breakdown if the figures do not reconcile.

Common Google Sheets Problems

• Rate entered in the wrong scale: 6% and 6 are not interchangeable in a formula. Check whether the cell is percentage-formatted.
• Wrong day basis: changing 365 to 360 changes the result. Verify the applicable convention rather than assuming one.
• Rounding too early: keep full precision during intermediate steps and round the displayed interest to cents at the end, unless the agreement specifies another method.
• Incorrect elapsed days: dates can be subtracted in Sheets, but decide which dates count and verify the result. A difference of one day affects interest.
• Changing balance or rate: if payments reduce principal or the rate changes, divide the timeline into periods and calculate each period using its own balance, rate, and day count.

Frequently Asked Questions

Does Google Sheets have an accrued interest function?
No dedicated function named ACCRUEDINTEREST is required for this simple calculation. Use multiplication and division in a formula, or use a financial function only when its documented inputs match the instrument and convention you need.

How do I calculate accrued interest between two dates in Sheets?
Subtract the earlier date from the later date to get elapsed days, then use that count as D in the formula. Confirm whether the applicable method includes the start date, end date, or both before relying on the result.

Should I use 360 or 365 in the formula?
Use the day-count basis specified by the relevant terms or instructions. The denominator is not a universal setting, and using a different one can produce a different interest amount.

Why is my Google Sheets result 100 times too high?
A frequent cause is entering 6 to mean 6% while using a formula that expects a percentage cell such as 6%. Divide a numeric whole-number percentage by 100, or enter it as 6% and use the percentage-cell formula.

Is accrued interest the same as the amount I owe?
Not necessarily. The calculation gives estimated interest under its stated assumptions; an amount due can also reflect payments, compounding, fees, timing, or other contract terms.

This is estimate arithmetic for education, not financial advice; the lender’s disclosure gives the exact figures.

Related

• Accrued Interest Charges: How They Work
• Accrued Interest Calculator: Formula and Example
• Accrued Interest Calculator for Bonds

in p | Principal | $ | 10000 | 0 | 100000000
in apr | Annual interest rate | % | 6 | 0.01 | 100
in days | Days accrued | days | 90 | 0 | 36500
in basis | Day-count basis | days per year | 365 | 360 | 366
out interest | Accrued interest | $ | p * apr / 100 * days / basis | 2
out total | Principal plus accrued interest | $ | p + interest | 2