Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
What is a clean and dirty price of a bond?
Expert Solution
Step 1
SOLUTION:-
The clean price of a bond refers to the price which does not includes accrued interest. Accrued interest is the interest which has been incurred or earned but not collected yet.
Clean price=Dirty Price - Accrued Interest
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