How to use this calculator
- Enter face amount, nominal annual coupon rate (%), nominal annual yield (%), whole years to maturity, coupons per year.
- Choose a display currency, then select Calculate. Results also update after a brief pause while you edit.
- Read the result with the assumptions below. Export details or save a second scenario to compare your choices.
Formula and method
Assumptions and limitations
No accrued interest, default, call option, day-count adjustment or live market data. Yield uses coupon-frequency nominal compounding; all promised cash flows are assumed paid.
Worked example
A 1,000 face bond with 5% coupon and 5% yield is priced at par, whether annual or semiannual coupons are selected, at a coupon boundary.
What the result means
Price a fixed-coupon bond at a coupon boundary and inspect its model interest-rate sensitivity.
Common questions
How is the calculation performed?
Bond price is the sum of discounted coupons and redemption. Macaulay duration weights payment times by present values; modified duration divides by 1+periodic yield. Convexity uses t(t+1)/(1+yield)^2 on periodic times.
What does the model leave out?
No accrued interest, default, call option, day-count adjustment or live market data. Yield uses coupon-frequency nominal compounding; all promised cash flows are assumed paid.
Methodology and transparency
Calculation specification reviewed on 2026-10-14. Mathematical implementation is tested against independent reference fixtures. This does not imply review by a licensed financial professional. Read the testing and precision policy.
Background reference: openstax.org — financial method. FinanceMath implements its own calculator.