3. In this chapter we discussed long-term bonds as if there were only one type, coupon bonds. In fact, there are also long-term discount bonds. A discount bond is sold at a low price and the whole return comes in the form of a price appreciation. You can easily compute the current price of a discount bond using the financial calculator at www.treasurydirect.gov/indiv/tools/ tools savingsbondcalc.htm. To compute the values for savings bonds, read the instructions on the page and click "Get Started." Fill in the information (you do not need to fill in the "Bond Serial Number" field) and click on "calculate."