Accrued interest & dirty price calculator

What you actually pay.

The idea behind it

This calculator belongs to Fixed Income, where the mechanism it computes is explained step by step, with the formula, what each input means and where the simple model stops being right. Everything is computed in your browser; nothing you type is sent anywhere.

Instruments it applies to

• Government Bond — A loan to a state, and the reference price of money itself — the yardstick every other asset is measured against.
• Corporate Bond — Lending to companies for a spread: the extra yield is the price of the chance they don't pay you back.
• Floating Rate Note — A bond whose coupon resets with the market — interest-rate risk engineered out, credit risk left in.
• Covered Bond — Bank debt with a safety net: backed by the bank AND a ring-fenced pool of mortgages. Zero defaults in two centuries of Pfandbriefe.
• Mortgage-Backed Security — Thousands of home loans bundled into a bond — with the homeowners' right to refinance baked into your risk.
• Asset-Backed Security — Any cash-flowing asset — car loans, credit cards, royalties — sliced into bonds of graded risk.
• Sukuk — Not a bond — a certificate of ownership in an asset that generates rent. Economically similar, legally very different, and the difference only shows up when something goes wrong.
• Green & Sustainability-Linked Bonds — Debt with a purpose clause: either the money is earmarked for green projects, or the coupon itself bets on the issuer's climate targets.

More calculators from Fixed Income

• Bond price, duration & convexity — the full price–yield toolkit.
• Yield-to-maturity solver — from price to yield by bisection.
• Tax-equivalent yield — comparing tax-exempt and taxable bonds.
• Loan & mortgage amortisation — payment, total interest, the first-payment split.
• Bond ladder planner — rungs, average yield, annual income.
• Real return after inflation — Fisher's equation, exactly.

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