# Bond Price / Yield / Duration Calculator Free CFA bond calculator for price, yield to maturity, Macaulay duration, modified duration, convexity, DV01, and cash-flow present values. Canonical URL: https://exclam.ai/cfa/bond-price-yield-duration-calculator/ CFA fixed income tool Price a coupon bond, solve yield to maturity, and see where price, duration, convexity, and DV01 come from in the cash-flow schedule. Examples ## Load a bond scenario Duration Discount coupon bond Load A 5% coupon priced at a 6% yield, useful for seeing price below par and duration contribution. Price falls below par because yield exceeds coupon. Convexity Premium semiannual bond Load Coupon rate above yield, showing a premium price and a visibly convex price-yield curve. Higher coupons pull more value into earlier periods. YTM Solve yield from market price Load Switches to market-price mode and solves yield by bisection so users can reconcile quoted price to YTM. Use this when the price is observed and yield is unknown. Zero Zero-coupon duration Load No coupons, so the price comes entirely from redemption value and Macaulay duration equals maturity. Useful for checking the duration intuition quickly. ## Inputs ModeFace valueCoupon rate % Years to maturityCoupon frequency per year Yield to maturity % Market priceRedemption value Price $925.61 From entered YTM YTM 6.000% Entered yield Modified duration 7.665 Approximate price sensitivity DV01 $0.7095 Value of one basis point Current yield 5.40% Macaulay duration 7.895 Convexity 71.785 Periods 20 Live interpretation - The bond is priced at $925.61, below par by $74.39. - Solved/entered YTM is 6.000%; current yield is 5.40% because it only uses annual coupon over price. - Modified duration is 7.665, so DV01 is approximately $0.7095 per 1 bp move. - The final principal cash flow still dominates PV, but coupon timing reduces duration below maturity. ## Cash-flow timeline Coupon bars show scheduled cash flows; the final bar includes redemption value. Figure: Bond cash-flow timeline Hover or focus a bar to inspect the value. ## Present value contribution Discounted bars show how much each period contributes to today's price. Figure: Present value contribution by period Hover or focus a bar to inspect the value. ## Price-yield curve The curve should slope downward; convexity explains the bend as yield moves. Figure: Bond price-yield curve Bond price Hover or focus a point to inspect the curve. ## Duration contribution Later cash flows usually carry more duration weight even when their present value is smaller. Figure: Duration contribution by period Hover or focus a bar to inspect the value. ## Cash-flow table | Period | Time | Cash flow | Present value | Duration contribution | | --- | --- | --- | --- | --- | | 1 | 0.50 yrs | $25.00 | $24.27 | 0.01311 | | 2 | 1.00 yrs | $25.00 | $23.56 | 0.02546 | | 3 | 1.50 yrs | $25.00 | $22.88 | 0.03708 | | 4 | 2.00 yrs | $25.00 | $22.21 | 0.04799 | | 5 | 2.50 yrs | $25.00 | $21.57 | 0.05825 | | 6 | 3.00 yrs | $25.00 | $20.94 | 0.06786 | | 7 | 3.50 yrs | $25.00 | $20.33 | 0.07686 | | 8 | 4.00 yrs | $25.00 | $19.74 | 0.08529 | | 9 | 4.50 yrs | $25.00 | $19.16 | 0.09315 | | 10 | 5.00 yrs | $25.00 | $18.60 | 0.10049 | | 11 | 5.50 yrs | $25.00 | $18.06 | 0.10732 | | 12 | 6.00 yrs | $25.00 | $17.53 | 0.11366 | | 13 | 6.50 yrs | $25.00 | $17.02 | 0.11955 | | 14 | 7.00 yrs | $25.00 | $16.53 | 0.12499 | | 15 | 7.50 yrs | $25.00 | $16.05 | 0.13002 | | 16 | 8.00 yrs | $25.00 | $15.58 | 0.13465 | | 17 | 8.50 yrs | $25.00 | $15.13 | 0.1389 | | 18 | 9.00 yrs | $25.00 | $14.68 | 0.14279 | | 19 | 9.50 yrs | $25.00 | $14.26 | 0.14633 | | 20 | 10.00 yrs | $1,025.00 | $567.52 | 6.13127 | Related calculators ## CFA finance tools [CFA hub](https://exclam.ai/cfa/index.md) [BA II Plus-style calculator TVM, cash-flow, amortization, NPV, and IRR practice with algebraic entry. 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Level III Performance attribution](https://exclam.ai/cfa/brinson-attribution-calculator/index.md) ## FAQ Does this calculator include accrued interest? No. This version uses discrete coupon cash flows from today to maturity and does not model settlement dates or accrued interest. Can it price zero-coupon bonds? Yes. Set the coupon rate to 0% and the tool will price the redemption cash flow, solve YTM, and show duration equal to maturity under standard zero-coupon assumptions. What duration is shown? The calculator shows Macaulay duration, modified duration, DV01, and a discrete convexity estimate based on the cash-flow schedule.