Find a bond price from its yield, or the yield from its price, with duration and current yield.
Please do not make financial decisions based on these results.
What is the Bond Calculator?
A bond calculator prices a bond from its coupon, maturity and yield, or finds the yield to maturity from its market price. It also reports current yield and duration.
Where the Bond Calculator fits
Find a bond price from its yield, or the yield from its price, with duration and current yield. The main figure it returns is the Bond price, worked out from the values you enter.
It belongs with the other investment tools. If you are comparing options or checking a result from another angle, try the Interest Rate Calculator, CAGR Calculator (Compound Annual Growth Rate) or the Percentage Return Calculator.
How to use the Bond Calculator
- Fill in the fields. You will need Face (par) value ($), Annual coupon rate (%), Time to maturity: years, Yield to maturity (% per year). Use a rate of return you consider realistic; small changes compound into large differences. Fields marked optional can stay at zero.
- Choose your options. Coupon payments change how the result is worked out, and the form updates to match your choice.
- Read the result. The highlighted box gives the Bond price, and the cards below show Bond price, Yield to maturity, Coupon payment. Tables and charts break it down further.
- Test other scenarios. Results update as you type. Change one value at a time to see what drives the answer, and press Reset to go back to the defaults.
Formula and how it works
Example with real numbers
Here is the Bond Calculator using the default values shown in the calculator above:
Inputs
| Mode | Find the bond price |
|---|---|
| Face (par) value ($) | 1,000 |
| Annual coupon rate (%) | 4.5 |
| Coupon payments | Semiannually |
| Time to maturity: years | 10 |
| Yield to maturity (% per year) | 5 |
Results
| Bond price | $961.03 |
|---|---|
| Bond price | $961.03 |
| Yield to maturity | 5% |
| Coupon payment | $22.50 × 2/yr |
| Current yield | 4.68% |
| Total coupons | $450.00 |
| Macaulay duration | 8.12 yrs |
| Modified duration | 7.92 |
| Discount | $38.97 |
With these inputs the calculator returns Bond price: $961.03. Change any value in the calculator to see how the result moves.
What the results tell you
The results panel of the Bond Calculator reports Bond price, bond price, yield to maturity, coupon payment, current yield, total coupons and macaulay duration. Compare these figures while changing one input at a time, and use the related calculators below to look at the same situation from another angle.
Tips for better results
Method and limits. This calculator applies the formula in the section above to your inputs, in your browser; nothing you enter is stored on our servers. Investment returns are not guaranteed. The result shows what the numbers you enter would produce, not what the market will do. It is for information, not financial, tax or legal advice.
Frequently asked questions
Why do bond prices fall when yields rise?
Future payments are discounted at a higher rate, so they are worth less today.
What is yield to maturity?
The total annual return if you buy the bond at its current price, hold it until maturity and receive every payment.
Are investment returns guaranteed?
No. Real returns vary. Use these tools to compare scenarios, not to predict results.
What rate of return should I assume?
There is no guaranteed rate. Test a range of conservative and optimistic rates, and remember that fees and inflation reduce your real return.
Are the results guaranteed?
No. Results depend entirely on the numbers you enter and the formulas shown on this page. Please do not make financial decisions based on them alone; confirm important figures with a licensed professional.
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