Bond price & YTM calculator
Work out the clean price of a straight fixed-coupon bond from its yield to maturity, or go the other way and solve YTM when you know the traded price. Pick how often the bond pays interest so the periodic rate lines up with your CFA-style or market convention.
Total coupon periods (N): 10
When to use price vs. YTM mode
Use Price from YTM when you have a view on required yield—after comparable bonds moved, or your model outputs a discount rate—and you want the dollar price per 100 of par. Use YTM from price when you see a quoted or traded clean price and want the implied annual yield for comparison with loans, hurdle rates, or the NPV calculator discount rate discussion.
What the inputs mean
- Face value: principal repaid at maturity (par amount for one bond).
- Annual coupon rate: stated coupon as a percent of par per year; the tool splits it by payments per year.
- Years to maturity: converted to N periods as years × payments per year (rounded to a whole number of periods).
- Payments per year: sets compounding alignment (e.g. 2 for typical U.S. corporates).
Limits and exam prep
This is a streamlined level-coupon bond with no calls, puts, or amortizing principal. For exam practice, pair it with the BA II Plus–style calculator and your curriculum's day-count and accrued-interest rules when questions require them.
Frequently asked questions
What is yield to maturity (YTM)?
YTM is the annualized return consistent with the bond's price, coupons, and principal, assuming no default and coupons reinvested at that yield, for this simplified setup.
Clean or dirty price?
Clean price only—accrued interest is not included.
Why default to semi-annual?
Many bonds pay twice a year; change the dropdown if yours differs.
Is data uploaded?
Calculations stay in your browser.