Bond Price Calculator

Find what a bond is worth today for a given market yield.

$
Amounts in dollars.
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Price
Current yield
Coupon payment
Duration
Premium or discount
Total coupons
Work

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How Bonds Are Priced

Price = Σ C ÷ (1 + y/m)ᵏ + F ÷ (1 + y/m)ᴺ, k = 1 … N

C is each coupon (face × coupon rate ÷ m), y the yield to maturity, m payments per year and N = years × m. Matches Excel’s PV and PRICE on a coupon date.

Worked Example

Tips

This prices the bond on a coupon date. Between coupon dates, buyers also pay accrued interest (the "dirty" price). Bond prices move opposite to yields; modified duration estimates the % price change for a 1-point yield change.