The price of a coupon bond that excludes any accrued is known as the clean price. The bond price is therefore $980 if the bond's par value is $1,000.
The clean price of a bond, as used in finance, is its face value less any interest that has accumulated since the bond's issuance and the most recent coupon payment. In contrast, the filthy price is the cost of a bond that takes accumulated interest into account. Clean Price then equals Dirty Price plus Accrued Interest.
The amount that bond issuers promise to repay to the buyer at the bond's maturity is known as the par value in the context of bonds. A bond is essentially a written guarantee that the sum lent to the issuer will be repaid.
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