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Bond Price Calculator
Fair price of a bond at a given yield.
Enter values to see your result
Frequently asked questions
Clean vs dirty price?
Clean price excludes accrued interest. Dirty price = clean + accrued. Markets quote clean; you actually pay dirty.
Why does price differ from par?
Coupon rate ≠ market yield. Market adjusts price so total YTM matches current yield curve.
How to profit from bonds?
Buy discount bonds and hold to maturity for capital gain + coupon. Or buy duration exposure hoping yields fall (price rises).
Reinvestment risk?
Coupons reinvested at prevailing (lower) rates reduce total return. Zero-coupon bonds eliminate reinvestment risk by design.