Bond Calculator
Discount coupon cash flows and face value to a clean price sketch. Also shows current yield and a simple approximate YTM. Informational, not investment advice.
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How to price a coupon bond sketch
- Enter face value, annual coupon rate, and yield to maturity.
- Set years remaining and how many coupon periods fall in each year.
- Read clean price, current yield, approximate YTM, and coupon per period.
- Compare coupon and yield: equal rates near par, higher yield below par, lower yield above par.
- Treat the result as discounted cash-flow arithmetic, not a broker quote or investment advice.
Coupon bond clean price
Present value of coupons plus discounted face
| Price | Sum of discounted coupons + face / (1+y)^n |
|---|---|
| Coupon per period | face × (coupon% / 100) / compounds |
| y | Periodic yield = annual YTM / compounds |
| Current yield | Annual coupon / clean price |
| Approx YTM | (C + (F − P)/n) / ((F + P)/2) |
| Advice | Informational. Not investment advice. |
What this bond page computes
A straight coupon bond pays a fixed coupon on a schedule and returns face at maturity. This page discounts those cash flows at a typed yield to sketch a clean (flat) price. Accrued interest and market day-count rules are omitted.
Formulas used
With periodic yield y and n periods, clean price equals the annuity present value of each coupon payment plus face discounted by (1+y)^n. At a zero yield the price is face plus coupon times periods. Current yield is annual coupon divided by price. Approximate YTM uses the average-price rule of thumb shown in the entity table.
Related money pages
The same clean-price path is also on bond price. Current yield and approximate YTM from a typed market price sit on bond yield. Level payment math without a face redemption is on annuity.
Use cases
Check that a par bond prices near face when coupon equals yield. See how price moves when yield rises or falls. Rough current yield on a clean price. Not a live market quote or trading recommendation.
Worked example
Face $1,000, 5% coupon, 5% yield, 10 years, and semiannual coupons. Periodic yield equals coupon rate, so the clean price sketch is about $1,000 (par). Current yield is also about 5%.
Limits
No accrued interest, call features, credit spreads, or settlement conventions. Approximate YTM is not a full IRR root solve. Informational, not investment advice. See the disclaimer.