Yield to Maturity Calculator
Find a bond's yield to maturity (YTM) from its price, face value, coupon and years left, with the approximation and current yield.
Change the values and press Calculate to work out your own figures.
Enter the face value, coupon, price and years.
Show the working
- yield: the rate at which the coupons and face value are worth the price (solved by bisection)
- approximate YTM = (coupon + (face − price) ÷ years) ÷ ((face + price) ÷ 2)
How to use it
Enter the face value, coupon, price and years.
Enter amounts without commas or with them; rates are percentages (5 for 5%). Negative amounts are allowed where a sign means money paid out.
Key facts
price = Σ coupon ÷ (1 + y/f)^k + face ÷ (1 + y/f)^(n·f) approximate YTM = (coupon + (face − price) ÷ years) ÷ ((face + price) ÷ 2)
Questions
What is the YTM of a $1,100 5% bond bought for $1,000 with 10 years left?
About 6.25%.
Formulas
price = Σ coupon ÷ (1 + y/f)^k + face ÷ (1 + y/f)^(n·f) approximate YTM = (coupon + (face − price) ÷ years) ÷ ((face + price) ÷ 2)
Sources
Limitations
- Results are estimates for planning, not offers or financial advice; lenders and banks may round, count days or time payments differently.
- Rates are nominal annual rates compounded as you choose; payments at a different frequency use the equivalent periodic rate.