Excel has inbuilt function “PRICE” to calculate the current price of a bond.I think this price is the dirty price of the bond including accrued interest. How can I calculate the clean price of a bond using excel formula? Description for PRICE in Excel does not provide any information about this.
You can use the ACCRINT function to calculate the accrued interest, then subtract that from the dirty price to get the clean price.
Actually, the excel PRICE function computes the clean price on any date. You would have to add the AI (with the ACCRINT function) to get the full price.
The excel formula you are looking for is indeed PRICE()