Accrued interest is earned when a coupon bond is currently in between coupon payment dates. As the next coupon payment date approaches, the accrued interest increases until the coupon is paid. Immediately following the coupon payment, the clean price and dirty price will be equal.
The dirty price is sometimes called the "price plus accrued". The clean price is quoted more often in the United States.
Investment dictionary. Academic. 2012.
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