What is the "dirty" price of a bond?
What will be an ideal response?
The "dirty" (or "full") price is the amount that the buyer agrees to pay the seller, which is the agreed-upon price plus accrued interest. The price of a bond without accrued interest is called the clean price. The exceptions are bonds that are in default. Such bonds are said to be quoted flat, that is, without accrued interest.
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