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nestegg-calculators

Bond Price

bond-price
Read-onlyIdempotent

Price of a coupon bond given a yield: present value of the coupons plus the face at maturity.

Input Schema

TableJSON Schema
NameRequiredDescriptionDefault
yearsYesYears to maturity.
yieldPctYesAnnual yield in percent.
faceValueYesFace (par) value.
couponRatePctYesAnnual coupon rate in percent of face.
periodsPerYearNoCoupon periods per year (default 2).

Output Schema

TableJSON Schema
NameRequiredDescriptionDefault
priceNoBond price (null if degenerate).

Schema Changelog

Changes observed during successful MCP inspections.

  1. Added

TDQS

A4.1/5.0
Behavior4/5

Does the description disclose side effects, auth requirements, rate limits, or destructive behavior?

Annotations already declare read-only, idempotent, and closed-world behavior. The description adds the calculation logic (PV of coupons + face), which is useful context beyond the annotations. No contradictions.

Agents need to know what a tool does to the world before calling it. Descriptions should go beyond structured annotations to explain consequences.

Conciseness5/5

Is the description appropriately sized, front-loaded, and free of redundancy?

The description is a single, well-structured sentence that conveys purpose and method without redundancy. Every word earns its place.

Shorter descriptions cost fewer tokens and are easier for agents to parse. Every sentence should earn its place.

Completeness5/5

Given the tool's complexity, does the description cover enough for an agent to succeed on first attempt?

Given the simple deterministic nature, full parameter documentation, annotations, and output schema, the description provides sufficient context. It clearly explains the core calculation without requiring further elaboration.

Complex tools with many parameters or behaviors need more documentation. Simple tools need less. This dimension scales expectations accordingly.

Parameters3/5

Does the description clarify parameter syntax, constraints, interactions, or defaults beyond what the schema provides?

Schema description coverage is 100%, so parameters are fully documented. The description mentions coupon and face but does not add new meaning beyond the schema. Baseline of 3 is appropriate.

Input schemas describe structure but not intent. Descriptions should explain non-obvious parameter relationships and valid value ranges.

Purpose5/5

Does the description clearly state what the tool does and how it differs from similar tools?

The description clearly states the tool computes the price of a coupon bond given a yield, using present value of coupons plus face value. This distinguishes it from siblings like bond-duration or yield-to-maturity, which answer different questions.

Agents choose between tools based on descriptions. A clear purpose with a specific verb and resource helps agents select the right tool.

Usage Guidelines3/5

Does the description explain when to use this tool, when not to, or what alternatives exist?

The phrase 'given a yield' implies the tool is used when you have a yield and want to find the price, but it does not explicitly mention alternatives or when not to use it. No clear exclusionary guidance is provided.

Agents often have multiple tools that could apply. Explicit usage guidance like "use X instead of Y when Z" prevents misuse.

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