Accrued interest is paid on bonds that are issued between interest dates.

Name: Accrued interest is paid on bonds that are issued between interest dates.
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Accrued interest is the interest that has accumulated on a bond since its last interest payment date. If a bond is issued between interest payment dates, the buyer will pay the seller the price of the bond plus the accrued interest that has accumulated since the last payment date.

Accrued Interest Is Paid on Bonds That Are Issued Between