T-bill calculator
A treasury bill's yield from its price and days.
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Bond yield calculator
What a bond really pays a year at the price you buy it, and how its price moves when rates change.
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The bond
The yield
Bought at $950.00 for $1,000.00 back in 5 years with a 5% coupon, the yield to maturity is 6.18% a year.
- Current yield
- 5.26%: the coupon on the price you pay, without the gain at the end.
- Held to the end
- $250.00 of coupons and +$50.00 on the price (below face value): +$300.00 in all.
The price if market yields move, and the change from what you pay. Rates up, prices down.
| Yield | Price | Change |
|---|---|---|
| 4.18% | $1,036.76 | +9.13% |
| 5.18% | $992.26 | +4.45% |
| 6.18% | $950.00 | +0.00% |
| 7.18% | $909.85 | -4.23% |
| 8.18% | $871.70 | -8.24% |
Education only, not investment advice. The answer comes from the numbers you typed in, not from your account or the market. Simulated results are hypothetical and have limits: real trading has slippage, gaps, changing results and emotions. Trading leveraged products can lose money quickly, including all of it. Risk warning
Educational only, not financial advice; trading involves risk.
The coupon is not the yield
A bond paying 5% on 1,000 pays 50 a year whatever you paid for it. Buy it at 950 and you also gain 50 at the end, so the yield to maturity is higher than 5%, about 6.2% over five years. Pay more than 1,000 and the yield falls below the coupon. When market rates rise, the price of a bond you already own falls, and the longer it has to run, the more it falls.
For a bill bought at a discount with no coupon, use the T-bill calculator; to see the yield after inflation, the real return calculator.
Not advice or tax advice. Arithmetic on the numbers you type; it assumes every payment is made, and leaves out accrued interest, fees and taxes.
Next tools
Real return calculator
A return after inflation, in today's money.
APR and APY calculator
A simple yearly rate against the rate with compounding.
Pricing
Three ways in. Pick yours.
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Baroq never holds your money and never trades for you. Educational only, not financial advice; trading involves risk.