Calcinator^™ Financial_Calc replaces most of the functions of a handheld financial calculator. It is useful for many loan, bond, cash flow, implied rate, options and other common financial calculations.

The Financial_Calc has three modes that are selected by clicking the labeled button next to the Del button:

• Pmt - for calculating loans, bonds, interest, cash flows, etc.
• Call - Call option calculations
• Put - Put option calculations

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Payment Mode

The Pmt mode solves the following equation for conventional amortized payment streams:

The Pmt mode features six input fields:

• PV - Present Value
• FV - Future Value
• Pmt - Payment per period or year
• r - Rate in Pct (Use Setup to select % or .00 format)
• N - Term of loan or bond in years or periods (1-365 only)
• IP/Y - Payments per year or period (1-365 only)

When selected, a field will be highlighted red. Selected fields are ready either for input or as a result field. To input a value into the field, select it and type in a value. After a value is typed in, this field will not be eligible as a result field unless selected again.

Full expressions using + - x / can be entered into any field. If the = button is pressed after an expression is entered, then that expression will be calculated in place.

The IP/Y button selectes the number of payments per year. 12 payments per year is default and typical for most loan calculations. Most bonds are 4 payments per year. The IP/Y field is input-only and is not recalculated when = is pressed.

Five of the six fields must have values to calculate a result. When a field is selected with no value entered, then it is the current result field and pressing the = button will place the calculated result in this field.

Performing a calculation results in a new value for the selected field. Also, a full report is displayed in the scrolling screen covering all of the relevant parameters of the calculation including an amortization table.

EXAMPLES:

To calculate the payment for a monthly 30-year loan of $100,000 at 8% interest:

• Enter 30 into the "Term" window
• Enter 8 into the "R%" windows
• Enter 100000 into the "PV" window (no commas or dollar sign)
• Enter 0 into the "FV" window
• Click on the "IP/Y" button and enter 12
• Click on the "Pmt" button
• Click = to display the payment of $733.76

To calculate the present value of  $10,000 bond that matures in 5 years and pays $500 quarterly where the prevailing 5-year interest rate is 6%:

• Enter 5 into the "Term" window
• Enter 6 into the "R%" window
• Enter 10000 into the "FV" window
• Click on the "IP/Y" button and enter 4
• Enter 500 into the "Pmt" window
• Click on the "PV" button
• Click = to display the present value of $16009.02

To calculate how long $500,000 will last in retirement with a $3000 monthly payment and a 4% assumed rate of return:

• Enter 500000 into the "PV" window
• Enter 0 into the "FV" window
• Enter 4 into the "R%" window
• Enter 3000 into the "Pmt" window
• Click on the "IP/Y" button and enter 12
• Click on the "Term" button
• Click = to display the term value of 23.76 years

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Options Modes

The Call and Put modes solve the following Black-Scholes equations for conventional European-style options:

The Call and Put modes feature seven input fields:

• Strike - the strike price of the option
• Spot - the spot or current price of the underlying
• Div - the annual dividend yield of the underlying
• R - the risk free annual interest rate
• Term - the time in days until expiry
• Vol% - the volatility of the underlying in percent
• Price - the price of the option

Call and Put calculations are based upon the Black-Scholes option pricing model. Any field can be calculated as a result based upon valid values in the other fields. Operation of the Call and Put modes is very similar to Pmt mode. Expressions can be entered into the input fields and calcualted in the same manner in all modes. Call and Put calculations will display a report in the sliding window showing all of the relevant option parameters including the Greeks.

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Shared Memory M1-M6

MS (Memory Store) and MR (Memory Recall) are used to store or recall values from six memory locations M1-M6. These operations will be performed relative to the selected field. To store a value to memory, select the field using the associated button and press MS. To recall a value from memory, select the field using the associated button and press MR. Full expressions can be stored or recalled between memory and the selected field to be used in the calculation.