Bond Calculator 💹
Calculate bond prices, yields, and other parameters for fixed-income investments
Bond Pricing Calculator
Please enter any four values into the fields below to calculate the remaining value of a bond. This calculator is for bonds issued/traded at the coupon date.
Advanced Bond Pricing Calculator
Use this calculator to value the price of bonds not traded at the coupon date. It provides the dirty price, clean price, accrued interest, and the days since the last coupon payment.
Results
Dirty price:
$97.3900
Clean price:
$97.3345
Accrued interest:
$0.0556
Interest accrued days:
4
Understanding Bonds 🧠
What is a Bond? 💹
A bond is a fixed-income instrument that represents a loan made by an investor to a borrower (typically a corporation or government entity). It serves as a means for organizations or governments to raise funds by borrowing from investors. A bond specifies the terms of the loan and the payments to be made to the bondholder.
Bond Structure 🔍
Key Components
- Face Value: Amount repaid at maturity
- Coupon Rate: Fixed interest rate
- Maturity Date: When principal is repaid
- Yield: Investor's return rate
- Price: Current market value
Bond Types
- Government Bonds: Lowest risk
- Corporate Bonds: Higher yield
- Municipal Bonds: Tax advantages
- Zero-Coupon Bonds: No periodic interest
- Convertible Bonds: Can convert to stock
Clean Price vs. Dirty Price ⚖️
Clean Price
The quoted price excluding accrued interest. Represents the bond's market value.
Dirty Price
The actual price paid including accrued interest. Calculated as:Dirty Price = Clean Price + Accrued Interest
Day-Count Conventions 📅
| Convention | Description | Common Usage |
|---|---|---|
| 30/360 | Assumes 30-day months, 360-day year | Corporate bonds |
| Actual/360 | Actual days, 360-day year | Money market instruments |
| Actual/365 | Actual days, 365-day year | Some government bonds |
| Actual/Actual | Actual days in both periods | Treasury securities |
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Disclaimer:
This bond calculator provides estimates based on the inputs provided. Actual bond prices may vary depending on market conditions, credit risk, and other factors. The calculators are designed for fixed-rate coupon bonds and may not be suitable for other bond types. This information is not financial advice. Please consult with a qualified financial professional before making investment decisions.