Bond Duration Calculator
Enter face value, coupon, yield and maturity to see duration and price risk.
Bond price
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Enter values above
Macaulay duration (years)
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Modified duration
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Price if yield rises 1%
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Price change for +1% yield
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Current yield
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Worked example
With the default inputs shown below, this calculator returns the following results:
| Input | Value |
|---|---|
| Face value ($) | 1000 |
| Coupon rate (%) | 5 |
| Yield to maturity (%) | 4.5 |
| Years to maturity | 10 |
| Coupon payments per year | 2 |
| Result | Value |
|---|---|
| Bond price | $1,039.91 |
| Macaulay duration (years) | 8 |
| Modified duration | 7.9 |
| Price if yield rises 1% | $961.93 |
| Price change for +1% yield | -$77.98 |
| Current yield | 4.81% |
Values shown are produced by this page in your browser; change any input to update them.
How to use the Bond Duration Calculator
- Face value ($) — default 1000
- Coupon rate (%) — default 5
- Yield to maturity (%) — default 4.5
- Years to maturity — default 10
- Coupon payments per year — default 2
- Press Calculate to update the results instantly.
Frequently asked questions
Duration is the weighted average time until you receive the bond’s cash flows. It is also the percentage price change for a 1% change in yield, which makes it the standard measure of interest-rate risk.
Because coupons arrive before the final principal repayment, pulling the average cash-flow time forward. A zero-coupon bond is the exception — its duration equals its maturity.
Modified duration gives a good approximation for small yield changes. For larger moves, convexity matters and the estimated price change understates the actual gain and overstates the loss.