6 lines
476 B
Markdown
6 lines
476 B
Markdown
When you buy a bond between coupon dates, the seller has _earned_ interest for the days they held the bond since the last coupon — but they won't be the ones receiving the next coupon payment, you will. So you compensate them by paying **accrued interest** on top of the quoted price.
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The total you actually pay is called the **dirty price**:
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- **Clean price** = quoted price (what you see listed)
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- **Dirty price** = clean price + accrued interest (what you actually pay) |