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Bond Macaulay Duration Calculator

Closed-form Macaulay duration for a level-coupon bond.

Compute the Macaulay duration — the price-weighted average time to receive cash flows — for a level-coupon bond using the closed-form formula in y per period and n periods.

Nadia Almasri By Nadia Almasri
Published Last reviewed 1 min read

Inputs

$
%
%
yr

Results

Enter values and click Calculate to see results.
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How to use this calculator

  1. Fill in the inputs above using the units you already have.
  2. Values update automatically as you type — no submit button needed.
  3. Hover any result row for the underlying formula and intermediate values.

Formula

D_mac (in periods) = (1+y)/y − ((1+y) + n·(c−y)) / (c·((1+y)^n − 1) + y), with c = coupon rate per period and y = YTM per period.

In depth

Compute the Macaulay duration — the price-weighted average time to receive cash flows — for a level-coupon bond using the closed-form formula in y per period and n periods.