Bond Calculator

Bond calculator for fixed-rate bond value, clean and dirty price, accrued interest, yield to maturity, and zero-coupon bond pricing. Includes coupon frequency, day-count conventions, reverse calculation modes, and period-by-period cash-flow breakdowns.

This calculator is designed for fixed-rate bonds. It does not account for credit risk, taxes, liquidity, call or put features, sinking funds, or changes in market supply and demand.

This bond calculator helps you estimate whether a fixed-rate bond is trading above or below face value and what yield to maturity the price implies. Enter the bond price, face value, coupon rate, time to maturity, and payment frequency to see present value, coupon cash flows, premium or discount, clean price, dirty price, accrued interest, and the payment schedule.

$$ P = \sum_{t=1}^{N}\frac{C}{(1+r)^t} + \frac{F}{(1+r)^N} $$

Bond calculation mode

Bond Valuation Calculator
Bond Pricing Calculator

Calculated value

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Coupon payment per period

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Number of coupon periods

Yield per period

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Total coupon payments

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Total interest received

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Premium / discount vs face value

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Bond calculator FAQ

What does yield to maturity mean?

Yield to maturity is the annualized return implied by the bond price if the bond is held until maturity and all scheduled coupon and principal payments are received. It combines coupon income with any gain or loss between the purchase price and face value.

What is the difference between clean price and dirty price?

Clean price is the quoted bond price before accrued interest. Dirty price adds the interest earned since the last coupon date, so it is closer to the cash amount paid at settlement.