How it works
Discount each payment at yield/frequency. Macaulay duration is the present-value-weighted mean payment time in years.
Input definitions
- Face value
- Enter the value in the labeled unit.
- Annual coupon rate (%)
- Enter the value in the labeled unit.
- Annual nominal yield (%)
- Enter the value in the labeled unit.
- Whole years to maturity
- Enter the value in the labeled unit.
- Coupon payments per year
- Enter the value in the labeled unit.
A worked example
- Face value
- 1000
- Annual coupon rate (%)
- 0
- Annual nominal yield (%)
- 5
- Whole years to maturity
- 5
- Coupon payments per year
- 2
Assumptions & limits
Planning model using the rates, cash flows and periods entered. Examples are illustrative, not market quotes or personalised financial advice. Taxes, inflation and transaction costs are excluded unless explicitly entered.
Sources & review
Maintained by AnsRio. Methods and examples use automated checks; this does not imply independent professional certification.
Method updated 2026-10-18. Content checked against the stated method and examples. Our verification approach.
Common questions
What is the duration of a zero-coupon bond?
Under this model it equals the years to maturity, because the only cash flow occurs at redemption.
How does Bond Macaulay duration work?
Discount each payment at yield/frequency. Macaulay duration is the present-value-weighted mean payment time in years.
What should I check before using Bond Macaulay duration?
Planning model using the rates, cash flows and periods entered. Examples are illustrative, not market quotes or personalised financial advice. Taxes, inflation and transaction costs are excluded unless explicitly entered.