Example: Accrued Interest - Payment at Maturity

In this example, the accrued interest is calculated for a bond which pays at maturity. The day count basis used is 30/360.

import com.imsl.finance.*;
import java.text.*;
import java.util.*;

public class accrintmEx1 {

    static final DateFormat dateFormat
            = DateFormat.getDateInstance(DateFormat.SHORT, Locale.US);

    static private GregorianCalendar parse(String s) throws ParseException {
        GregorianCalendar cal = new GregorianCalendar();
        cal.setTime(dateFormat.parse(s));
        return cal;
    }

    public static void main(String args[]) throws ParseException {
        GregorianCalendar issue = parse("10/1/91");
        GregorianCalendar settlement = parse("11/3/91");
        double rate = .06;
        double par = 1000.;
        DayCountBasis dcb = DayCountBasis.BasisNASD;
        double accrintm = Bond.accrintm(issue, settlement, rate, par, dcb);
        System.out.println("The accrued interest is " + accrintm);
    }
}

Output

The accrued interest is 5.333333333333334
Link to Java source.