Examlex
Describe the characteristics of sunspots and how they are formed.
Pure Discount Securities
Financial instruments that are sold at a discount from their face value and pay no interest until maturity, such as zero-coupon bonds.
Clean Price
The price of a bond excluding any interest that has accrued since issue or during the last coupon payment.
Dirty Price
The price of a bond that includes accrued interest, in contrast to the clean price which excludes it.
Accrued Interest
Interest that has accumulated over a period but has not yet been paid or received.
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