Bond Calculator
Price fixed-coupon bonds and solve for yield, maturity, face value, or coupon.
Price a fixed coupon bond from discounted coupons and redemption value.
Result
How to use this calculator
Price a fixed coupon bond from discounted coupons and redemption value. Enter amounts in the units shown, select the applicable options, and click Calculate. Use Reset to restore the starting values.
Calculation formula
Price = coupon × annuity factor + face/(1+y/f)^(years×f).
Assumptions and accuracy
Review timing, rates, fees and result notes when comparing scenarios. Future returns and rates are assumptions rather than guaranteed outcomes. Monetary display follows the currency’s precision; intermediate calculations retain additional digits.
Choose what to calculate
Bond price calculator
Price a regular-coupon bond using settlement and maturity dates and the selected day-count convention. Irregular stub coupons and ex-coupon rules are outside this model.
Open this calculationBond price calculator with accrued interest
Price a regular-coupon bond using settlement and maturity dates and the selected day-count convention. Irregular stub coupons and ex-coupon rules are outside this model.
Open this calculationYield to maturity calculator
Price a regular-coupon bond using settlement and maturity dates and the selected day-count convention. Irregular stub coupons and ex-coupon rules are outside this model.
Open this calculationUnderstanding this calculation
Value bond coupons and principal at a selected yield, or solve for an unknown bond variable. The dated mode distinguishes accrued coupon interest from clean price.
Worked examples
Price a one-year zero-coupon bond
Illustrative inputs are specified in the steps below; the example link loads the complete settings. Unmentioned settings use the linked defaults.
- With no coupons, discount the single 1,000 maturity payment by one year at 10%: 1,000 / 1.10 = 909.09.
price: 909.09 USD.
Try these inputsCommon questions
Why does a bond price fall when yield rises?
Higher discount rates reduce the present value of unchanged future coupons and principal.
What is the difference between clean and dirty bond price?
Dirty price includes accrued coupon interest. Clean price removes that accrued amount under the selected convention.
Scope and assumptions
The model assumes the specified payments occur. Credit risk, embedded options, settlement conventions and market liquidity are not fully modeled.
Sources
- Calculation methodology, rule versions and testing limitations
- Reference calculator for feature comparison (not a model-parity certification)
Calculation notes checked . Examples are mathematical checks under the stated assumptions.
Calculation methods and formulas
Solve Price
Price a fixed coupon bond from discounted coupons and redemption value.
Price = coupon × annuity factor + face/(1+y/f)^(years×f).
Solve Face
Price a fixed coupon bond from discounted coupons and redemption value.
Price = coupon × annuity factor + face/(1+y/f)^(years×f).
Solve Yield
Price a fixed coupon bond from discounted coupons and redemption value.
Price = coupon × annuity factor + face/(1+y/f)^(years×f).
Solve Maturity
Price a fixed coupon bond from discounted coupons and redemption value.
Price = coupon × annuity factor + face/(1+y/f)^(years×f).
Solve Coupon
Price a fixed coupon bond from discounted coupons and redemption value.
Price = coupon × annuity factor + face/(1+y/f)^(years×f).
Settlement-Date Pricing
Discount the remaining coupon schedule and separate accrued interest from clean price.
Dirty price discounts all remaining payments; clean price = dirty price − accrued coupon.
See our calculation methodology and review status for data versions, rounding and validation limitations.