Bond Calculator

Calculate bond price, YTM, duration, and modified duration for any fixed-income security.

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📖How to Use the Bond Calculator

1Enter Bond Details

Input the face value (par value), annual coupon rate, years to maturity, and the current market interest rate (required yield).

2Select Coupon Frequency

Choose how often the bond pays interest: annually, semi-annually, or quarterly.

3Interpret Results

If the market rate exceeds the coupon rate, the bond trades at a discount (below par). Modified duration tells you the approximate % price change for a 1% change in yield.

💡Use Cases

Pricing bonds before purchase
Managing interest rate risk in a fixed income portfolio
Comparing bond returns vs. equity

Frequently Asked Questions

What is Yield to Maturity (YTM)?

YTM is the total return anticipated on a bond if held until it matures. It represents the internal rate of return of the bond's cash flows.

Why does higher duration mean more risk?

A modified duration of 5 means the bond price will fall approximately 5% for every 1% rise in interest rates.

Bond Calculator