How to use
- Enter face value, coupon, maturity, and yield.
- Review duration, DV01, and convexity outputs.
- Use the ±200bp slider to inspect points on the price-yield curve.
Inputs
Result
Price-yield curve
Cash-flow table
| # | Year | Coupon | Principal | Cash flow (CF) | Discount factor | Present value (PV) |
|---|
FAQ
What is the difference between Macaulay and modified duration?
Modified duration is Macaulay duration adjusted by yield, and is used as a first-order price sensitivity estimate.
How is DV01 defined in this calculator?
This calculator shows DV01 as the price drop per 100 face when yield is increased by 1 basis point (0.01%).
What happens for a zero-coupon bond?
Without accrued interest, Macaulay duration of a zero-coupon bond matches its maturity in years.
Should coupon rate and YTM be entered as percent values?
Yes. Enter 5 for 5%. If you enter 0.05, it is treated as 0.05%.
What should I do first on this page?
Start with the minimum required inputs or the first action shown near the primary button. Keep optional settings at defaults for a baseline run, then change one setting at a time so you can explain what caused each output change.