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Bond Accrued Interest Calculator

Work out the interest that has accrued since the last coupon and is added to the purchase price.

About Bond Accrued Interest Calculator

Bonds are quoted clean but settled dirty, so the buyer compensates the seller for interest earned but not yet paid. Accrual is straight-line across the coupon period on most day-count conventions. The gap between clean and dirty price surprises first-time bond buyers, who settle more than the quoted price by up to a full coupon.

Formula

Bond Accrued Interest

Accrued interest = coupon payment × days since last coupon ÷ days in the period

clean price
Quoted price excluding accrued interest
dirty price
Amount actually settled, clean price plus accrued interest

Worked example

With the default values below, Bond Accrued Interest Calculator returns Accrued Interest of $10.1370. Change any input above and every figure here is recalculated in your browser.

Inputs used

Face valueminimum 0.01
1,000
Annual coupon rateaccepts 0–100 %
5 %
Days since the last couponaccepts 0–366 days
74 days
Days in the coupon periodaccepts 1–366 days
182 days
Clean priceminimum 0
985

Results

Accrued Interest
$10.1370
Dirty Price Payable
$995.14
Full Coupon Payment
$24.93
Share of the Coupon Accrued
40.66%
Interest Accruing per Day
$0.1370

Step by step

  1. 1Values used
  2. 2Bond Accrued Interest
  3. 3Accrued Interest= 10.1370
  4. 4Dirty Price Payable= 995.14
  5. 5Full Coupon Payment= 24.93
  6. 6Share of the Coupon Accrued= 40.66
  7. 7Interest Accruing per Day= 0.1370

Assumptions and limits

  • The result is derived only from the 5 inputs listed above. Anything not among them is not part of the calculation.
  • In particular, this calculator does not take inflation, tax or fees or charges into account.
  • Figures are rounded for display to 4 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
  • This is an estimate for general information and not professional financial, tax or legal advice. See the full disclaimer for the limits that apply to this kind of calculator.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Frequently Asked Questions

How is Bond Accrued Interest calculated?

Accrued interest = coupon payment × days since last coupon ÷ days in the period Bonds are quoted clean but settled dirty, so the buyer compensates the seller for interest earned but not yet paid. Accrual is straight-line across the coupon period on most day-count conventions.

Why does Bond Accrued Interest matter?

The gap between clean and dirty price surprises first-time bond buyers, who settle more than the quoted price by up to a full coupon.

What values do I need to enter?

This calculator takes 5 inputs: Face value, Annual coupon rate, Days since the last coupon, Days in the coupon period, Clean price. The pre-filled defaults are a realistic starting point — replace them with figures from your own environment for a result you can act on.

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