Introduction
A bond is a loan you make to a company or a government. They pay you interest along the way, and they pay back the face value when the bond matures. This bond calculator helps you see what that deal is really worth.
Use it to find a bond price, face value, coupon, yield, or time to maturity. Pick which one you want to solve for, fill in the rest, and the tool does the math. It also shows each step, so you can follow how the answer was found.
The four tabs cover most of what you need:
- Core Bond Calculator — solve for price, par value, coupon, yield, or years. For a price-only view, see the Bond Value Calculator.
- Between Coupon Dates — get the clean price, dirty price, and accrued interest for a trade that settles mid-period.
- Yield & Duration — find yield to maturity, yield to call, duration, convexity, and DV01. The Bond Yield Calculator focuses on yield alone.
- Bond Return Summary — see your total interest, capital gain or loss, and profit if you hold to maturity.
One rule matters most: interest is always based on the face value, not the price you paid. Buy a $1,000 bond for $950, and you still earn interest on $1,000 and get $1,000 back at the end. The charts show how the price moves as yields change, so you can spot the risk before you buy. If you are pricing government paper instead of corporate debt, the Treasury Bond Calculator and the Savings Bond Calculator handle those cases.
How to use our Bond Calculator
Type in your bond details — price, face value, coupon, yield, and time left — and the calculator shows the bond price, yield, accrued interest, duration, and your total profit, plus step-by-step math and charts. Pick a tab at the top for the job you need.
Core Bond Calculator tab
Solve For: Pick the one thing you want to find — price, face value, coupon, yield, or time to maturity. That box locks and the calculator fills it in from the other four.
Coupon Frequency: Choose how many times a year the bond pays interest, like semiannually (2 per year).
Bond Price: Enter what the bond costs in dollars. Leave this blank-ish (it fills in) if you are solving for price.
Face Value (Par): Enter the amount paid back at maturity, often $1,000. Coupon interest is based on this number.
Annual Coupon: Enter the yearly interest. Use the drop-down to enter it as a percent of face value or as dollars per year.
Yield (Annual): Enter the yearly return you want or the market rate, as a percent. If you are comparing that rate to a bank product, run it through the APY Calculator or the CD Calculator.
Time to Maturity: Click "Enter Years" and type the years left (decimals are fine), or click "Use Dates" and pick a settlement date and maturity date. The Date Duration Calculator can confirm the exact gap between two dates.
Between Coupon Dates tab
Settlement Date: Pick the day the bond is bought and paid for.
Maturity Date: Pick the day the bond pays back par. Coupon dates count backward from here.
Coupon Frequency: Choose how often coupons are paid each year.
Face Value (Par): Enter the par amount in dollars.
Annual Coupon Rate: Enter the yearly interest rate as a percent.
Annual Yield: Enter the yearly rate used to discount the payments left.
Day-Count Convention: Pick how days are counted: 30/360, Actual/360, Actual/365, or Actual/Actual. This changes accrued interest and the dirty price.
Yield & Duration tab
Bond Price: Enter the price you pay today in dollars.
Face Value (Par): Enter the amount repaid at maturity.
Annual Coupon: Enter the yearly interest as a percent of par or as dollars.
Coupon Frequency: Choose how many payments come each year.
Yield for Duration Analysis: Enter the yearly yield used to measure duration, convexity, and DV01. Basis-point moves can be converted with the BPS Calculator.
Call Price: Enter the price the issuer pays to buy the bond back early.
Timing: Choose "Enter Years" and type years to maturity and years to call, or choose "Use Dates" and pick settlement, maturity, and call dates.
Results to display: Show all results, or just yield to maturity, yield to call, or duration.
Bond Return Summary tab
Purchase Price: Enter what you paid for the bond in dollars.
Face Value (Par): Enter the amount you get back at maturity.
Annual Coupon Rate: Enter the yearly rate as a percent of face value.
Time to Maturity (Years): Enter how many years you will hold the bond. Decimals are allowed.
Coupon Frequency: Choose how many coupon payments you get each year.
Click Calculate to see your results, or Reset to start over with the default numbers. To turn a simple hold-to-maturity gain into an annualized figure, pair the output with the CAGR Calculator or the ROI Calculator.
What Is a Bond?
A bond is a loan. You lend money to a government or a company. They pay you interest for a set number of years. At the end, they pay your money back. Bonds are used by investors who want steady income and less risk than stocks. Many people hold them beside dividend payers, which you can model with the Dividend Yield Calculator.
The Main Parts of a Bond
- Face value (par): the amount paid back at the end. Most bonds use $1,000.
- Coupon rate: the yearly interest rate. It is always figured on the face value, not on what you paid.
- Coupon frequency: how often you get paid. Many bonds pay twice a year.
- Maturity: the date the loan ends and par is repaid.
- Price: what the bond costs today in the market.
- Yield: the return you earn based on the price you pay.
Why Bond Prices Move
Bond prices and interest rates move in opposite ways. When rates go up, older bonds with lower coupons look worse, so their price drops. When rates fall, older bonds look better, so their price rises. A bond that costs less than par is a discount bond. One that costs more than par is a premium bond. Either way, you still get the full face value at maturity. Because price is just the sum of discounted cash flows, the same logic drives the Present Value Calculator and the DCF Calculator.
Yield to Maturity and Yield to Call
Yield to maturity (YTM) is your total yearly return if you hold the bond to the end and reinvest every coupon at the same rate. Yield to call (YTC) is your return if the issuer pays the bond off early at the call price. Issuers usually call bonds when rates drop. If YTC is lower than YTM, plan around the lower number. YTM is really an internal rate of return, so the IRR Calculator and NPV Calculator solve the same kind of equation.
Clean Price, Dirty Price, and Accrued Interest
Most trades do not land on a coupon date. The seller has earned part of the next coupon, called accrued interest. The clean price is the quoted price without it. The dirty price is clean price plus accrued interest, and it is what the buyer actually pays. Day-count rules like 30/360 or Actual/Actual decide how those days are counted, so they change the final invoice. For plain day-based interest math, see the Simple Interest Calculator and the Daily Interest Calculator.
Duration, Convexity, and DV01
These numbers measure interest rate risk. Macaulay duration is the average time, in years, until you get your money. Modified duration tells you about how much the price falls if yields rise 1%. Convexity fine-tunes that guess, since the real price curve bends. DV01 is the dollar price change for one basis point (0.01%) of yield. Longer bonds and lower coupons mean higher duration and bigger price swings. If you build a mixed portfolio of bonds at different rates, the Blended Rate Calculator and the WACC Calculator are useful next stops.
Current Yield vs. Total Return
Current yield is just the yearly coupon divided by the price. It ignores any gain or loss on your principal. Total return adds all the coupon income plus the difference between face value and what you paid. Both are useful, but total return shows the full picture of holding a bond to maturity. To see what reinvested coupons could grow into, try the Compound Interest Calculator or the Future Value Calculator, check the buying power of that income with the Inflation Calculator, and estimate the tax bite with the Capital Gains Tax Calculator.