Quick answer
A bond's price is the present value of its coupons plus its face value, discounted at the yield: price = Σ c ÷ (1 + y/f)^t + face ÷ (1 + y/f)^n. A $1,000, 5% semi-annual bond with 6% yield and 10 years to maturity prices at $925.61.
Enter the face value, coupon rate, yield, years and coupon frequency. The calculator returns the price and annual coupon.
Related tools: Yield to Maturity Calculator: Yield to maturity of a coupon bond from its market price. Unit Price Calculator: Price per unit for one or two items, and which is cheaper. Price Elasticity of Demand Calculator: Price elasticity of demand by the midpoint (arc) method.
How to use the Bond Price Calculator
- Enter face value ($) (above 0).
- Enter annual coupon rate (%) (between 0 and 100).
- Enter yield to maturity (%) (between 0 and 100).
- Enter years to maturity (between 0 and 100).
- Choose coupons per year: Annual and Semi-annual.
- Press Calculate to see the result, and use Reset to start again.
| Input | What to enter | Allowed values |
|---|---|---|
| Face value | A number, in $ | > 0 |
| Annual coupon rate | A number, in % | ≥ 0, ≤ 100 |
| Yield to maturity | A number, in % | ≥ 0, ≤ 100 |
| Years to maturity | A number | > 0, ≤ 100 |
| Coupons per year | Choose one: Annual; Semi-annual | Starts at Semi-annual |
Formula and method
Formula
price = Σ c ÷ (1 + y÷f)ᵗ + face ÷ (1 + y÷f)ⁿ, c = face × coupon ÷ f
IEEE-754 double precision; money shown to cents, rates to 4 decimals. Results are estimates, not financial advice.
Prices the bond on a coupon date, so years × frequency must be a whole number.
Worked examples
These examples are verified: each one is an automated test case that the live calculator must reproduce exactly.
Example 1
Inputs: Face value = 1000; Annual coupon rate = 5; Yield to maturity = 6; Years to maturity = 10; Coupons per year = Semi-annual.
| Result | Value |
|---|---|
| Bond price | $925.61 |
| Annual coupon | $50.00 |
Example 2
Inputs: Face value = 1000; Annual coupon rate = 4; Yield to maturity = 4; Years to maturity = 5; Coupons per year = Annual.
| Result | Value |
|---|---|
| Bond price | $1,000.00 |
| Annual coupon | $40.00 |
Example 3
Inputs: Face value = 1000; Annual coupon rate = 6; Yield to maturity = 5; Years to maturity = 3; Coupons per year = Semi-annual.
| Result | Value |
|---|---|
| Bond price | $1,027.54 |
| Annual coupon | $60.00 |
The first line is the headline result (bond price). Below it the bond Price Calculator lists annual coupon, which describe the same case from other angles. IEEE-754 double precision; money shown to cents, rates to 4 decimals. Results are estimates, not financial advice.
Price and yield move opposite
When the market yield (6%) is above the coupon (5%), the bond trades below face value: a discount. If the yield were below 5%, the price would exceed $1,000. As maturity approaches, the price converges to par.
Inputs
Years × coupons per year must be whole. The semi-annual coupon is $25, paid 20 times, and the discount rate per period is 3%. This is a clean price and ignores accrued interest.
How the result changes with face value
Holding every other input at the first worked example, this table changes only face value. It shows how sensitive the answer is to that one value; each row was produced by running this calculator.
| Face value | Bond price | Annual coupon |
|---|---|---|
| 500 | $462.81 | $25.00 |
| 1000 | $925.61 | $50.00 |
| 2000 | $1,851.23 | $100.00 |
| 4000 | $3,702.45 | $200.00 |
What happens with invalid input
These messages are produced by the calculator itself, so you know what to fix.
- Years to maturity: entering "2.3" shows "Years × coupons per year must be a whole number." beside that field and no result.
- Face value: entering "0" shows "Face value must be greater than 0." beside that field and no result.
Choosing between the Bond Price Calculator and similar calculators
Each row shows what a related calculator on this site asks for and what it returns, so you can pick the one that matches your question.
| Calculator | You enter | It returns |
|---|---|---|
| [Yield to Maturity Calculator](/finance/yield-to-maturity-calculator/) | market price, face value and annual coupon rate | Yield to maturity |
| [Unit Price Calculator](/finance/unit-price-calculator/) | price of item 1 and quantity of item 1 | Cheaper per unit |
| [Price Elasticity of Demand Calculator](/business/price-elasticity-demand/) | price before, price after and quantity before | Price Elasticity of Demand |
| [Price Elasticity of Supply Calculator](/business/price-elasticity-of-supply-calculator/) | price before, price after and quantity before | Price Elasticity of Supply |
| [Cross-Price Elasticity Calculator](/business/cross-price-elasticity-calculator/) | price before, price after and quantity before | Cross-Price Elasticity |
Background: personal finance estimates
Financial calculators project from the numbers you give them. Long-range tools depend on guesses about returns and tax rates that are unlikely to hold exactly, payoff tools assume a fixed payment and rate, and tax or salary results depend on the tax year, filing status and country. Official calculators say their output is for reference only.
For decisions that matter, use conservative inputs and check the figures against your lender, plan documents or a qualified adviser.
Assumptions and limitations
- Years × coupons per year must be whole
Results are estimates for planning, not financial advice. Lender terms, fees, taxes and rounding rules can change real figures, so confirm important numbers with your lender or a licensed adviser.
If a required value is empty, not a number, or outside its allowed range, the form marks that field with a message and shows no result instead of a misleading number. The automated checks deliberately try invalid entries for years to maturity and face value to confirm this.
Frequently asked questions
What is yield to maturity?
The annual return if held to maturity at the current price.
Why do bonds fall when rates rise?
New bonds pay more, so old ones sell at a discount.
What is a coupon?
The bond's regular interest payment.
What does the Bond Price Calculator calculate?
Price of a coupon bond from its yield to maturity. It returns Bond price and Annual coupon.
What formula does the Bond Price Calculator use?
price = Σ c ÷ (1 + y÷f)ᵗ + face ÷ (1 + y÷f)ⁿ, c = face × coupon ÷ f. Prices the bond on a coupon date, so years × frequency must be a whole number.
What do I need to enter in the bond Price Calculator?
You enter Face value ($), Annual coupon rate (%), Yield to maturity (%), Years to maturity and Coupons per year.
How is the result rounded or limited?
IEEE-754 double precision; money shown to cents, rates to 4 decimals. Results are estimates, not financial advice. Years × coupons per year must be whole.
What does the “Coupons per year” option change?
It sets how the bond Price is worked out. The choices are Annual and Semi-annual.
What is an example of a bond Price result?
With face value 1000, annual coupon rate 5, yield to maturity 6, years to maturity 10 and coupons per year Semi-annual, the bond price is $925.61.
Can I rely on this calculator for a decision?
Results are estimates for planning, not financial advice. Lender terms, fees, taxes and rounding rules can change real figures, so confirm important numbers with your lender or a licensed adviser. For this calculator in particular: Years × coupons per year must be whole.
Related calculators
- Yield to Maturity Calculator — Yield to maturity of a coupon bond from its market price.
- Unit Price Calculator — Price per unit for one or two items, and which is cheaper.
- Price Elasticity of Demand Calculator — Price elasticity of demand by the midpoint (arc) method.
- Price Elasticity of Supply Calculator — Price elasticity of supply by the midpoint (arc) method.
- Cross-Price Elasticity Calculator — Cross-price elasticity (price of the other good) by the midpoint (arc) method.
- Auto Loan Calculator — Monthly car payment after down payment and trade-in.
Sources
- Standard time-value-of-money relations (e.g. Brealey, Myers & Allen, Principles of Corporate Finance)
Content last reviewed 2026-11-04. Formulas and worked examples are checked by automated tests against independently computed values.