Savings Bond Calculator For Mac Free

16-11-2021 admin

Us Savings Bond Calculator Wizard
Savings Bond Calculator Program
Ee Savings Bond Calculator Free

The Savings Bond Wizard has been a useful tool for Savings Bond investors for more than 15 years. The Treasury has replaced it with the Savings Bond Calculator, a similar Web. Government bonds typically pay 1% to 3.5% depending on duration, with longer durations paying higher yields. Some municipal bonds are tax free. Corporate bonds typically offer higher yields than similar duration government bonds with the yield spread premium depending upon broader market conditions and the creditworthiness of the borrower. MyBonds tracks the value of your U.S. Why make a trip to the bank? MyBonds makes it easy. The unique, colorful interface is engaging and easy to use. MyBonds provides you with up-to-date values for bond series EE, I, and E. MyBonds allows you to create any number of portfolios and bonds, and instantly view their total values.

Note: The Calculator is for paper bonds only. To learn the value of your electronic savings bonds, log in to your TreasuryDirect account.

To find what your paper bond is worth today:

Click the 'Get Started' Link on the Savings Bond Calculator home page.
Once open, choose the series and denomination of your paper bond from the series and denomination drop down boxes.
Enter the issue date that is printed on the paper bond. Note: Enter two-digit months (e.g. 01, 12) and four-digit years (e.g. 1985 or 2001). If you're not sure where to find the issue date or serial number of your paper bond, see our bond diagram.
Click the 'Calculate' button.

To build an inventory of paper bonds:

Repeat the above process for each of your paper bonds.
The Calculator will add each new paper bond to the top of your inventory listing.

To find the value of paper bonds in past or future months:

If you'd like to see what your paper bonds were worth in the past or will be worth in the near future:

Change the 'Value as of' date at the top of the Calculator to the desired date.
Click 'Update'.
Your inventory will update to show the values of your paper bonds as of the date you enter.
The Calculator can show you what your paper bonds were worth from January 1996 through the current rate period.

Not sure what data the Calculator is giving you?

If you have questions about any of the fields that are displayed, here are short descriptions of the fields displayed by the Calculator.

Bond Serial Number–The serial number can be found in the lower right corner of your paper savings bond. This information is not required, but is important for record-keeping purposes if your paper bonds are ever lost or destroyed.
‘Value as of’ Date–When you first open the Savings Bond Calculator, it shows what your paper bonds are worth today. If you want to see what they're worth in other months, you can change the 'Value as of' date. The Calculator can show what your paper bonds are worth in any month from January 1996 through the current rate period.
Series–The series can be found in the upper right corner of your paper savings bond. This Calculator provides values for paper savings bonds of these series: EE, I, E.
Denomination–The face value as shown in the upper left corner of your paper bond.
Issue Date–The date your paper bond was issued. It’s the month and year printed on the right side of your paper bond, below the series.
# Bonds–The number of paper bonds you’ve entered into this inventory.
Total Price–The total money you paid to buy the paper bonds in this inventory.
Total Interest–The combined amount of payable interest accumulated by the paper bonds listed in this inventory through the date listed in the ‘Value as of’ box.
Total Value–The combined cash value of the paper bonds listed in this inventory as of the date in the ‘Value as of’ box. This is what you’d receive if you cashed all of these paper bonds in that month.
YTD Interest– Year-to-Date interest. The total amount of interest accumulated by the paper bonds in this inventory from January of the year listed in the ‘Value as of’ box through the date given.
Issue Price–The money you paid to buy each paper bond in this inventory.
Interest–The amount of interest each paper bond has accumulated from its Issue Date through the ‘Value as of’ date.
Note: If a bond was issued May 1997 or later and it’s cashed before it’s five years old, it’s subject to a three-month interest penalty. The interest shown here incorporates this penalty.
Value–What each paper bond is worth as of the date given in the ‘Value as of’ field.
Interest Rate–The interest rate each bond is earning in the date listed in the ‘Value as of’ field. We use this rate to calculate the interest that accumulates on the Next Accrual Date.
Next Accrual–The first date after the date specified in the ‘Value as of’ box that each bond increases in value.
Final Maturity–The date each bond stops earning interest.
N/A–A bond’s current interest rate is not available. This means that
a) The bond has stopped earning interest;
or
b) We won’t know the rate the bond earns during the ‘Value as of’ date until the next rate period when new interest rates are announced;
or
c) The rate the bond earns can’t be retrieved from the database.
Note–Here are brief descriptions about special bond designations.
- NI. Not Issued–You changed the ‘ Value as of ’ date to a date before the paper bond was issued.
- NE. Not Eligible for Payment–Bonds with this designation can't be cashed until they are at least 12 months old.
- P5–Bonds issued May 1997 or later that are less than five years old include a three-month interest penalty.
- MA. Matured–This paper bond is matured and not earning interest. (used with 'Value as of' dates for September 2004 and after).

Want to save your inventory?

Note: The Calculator won't save your inventory of paper bonds if you're using either of these browsers: Google Chrome, Microsoft Edge.

You can save your inventory so you can update your paper bond values quickly and easily. All you need to do is use your browser's built-in saving function. Click the 'Save' button in the results area and then when the list appears, click 'File' and 'Save As' and name your inventory. Make sure that you save your file as an 'HTML Only' file and click 'Save.' If you'd like more detail, check out our Instructions for Saving Your Inventory Page.

Having problems loading your saved inventory file?

If you saved your inventory on the main Calculator screen and then attempt to reopen the file, you will get a page that has words on the left-hand side of the screen and you won’t immediately see your data.

Scroll down the page until you see an area that says “Calculate the Value of Your Paper Savings Bond(s).” In that area there’s an Update button. See the image below:

Click on the Update button and your inventory will be restored in the Savings Bond Calculator.

Be sure to click on the “How to Save Your Inventory” button before you resave your file to get complete instructions.

Do you report savings bond interest to the IRS every year as it accrues?

If you report interest annually, check out the Calculator's YTD Interest feature. It reports the amount of interest your paper bonds have accrued from the start of a year through the date you enter in the 'Value as of' section. Here's how you can use this feature to calculate the amount of interest your paper bonds accrued in one calendar year:

List the paper bonds you want to report annually.
Enter December of the tax year in the 'Value as of' box. For example, if you want to find the interest your paper bonds accrued in 1999, enter '12/1999' in the 'Value as of' box.
Find the value in the 'YTD Interest' box. That's the amount of interest your paper bonds accrued that year.

The Current Yield

The current yield is a measure of the income provided by the bond as a percentage of the current price:

[{rm{Current,Yield}} = frac{{{rm{Annual,Interest}}}}{{{rm{Clean,Price,of,Bond}}}}]

There is no built-in function to calculate the current yield, so you must use this formula. For the example bond, enter the following formula into B13:

=(B3*B2)/B10

The current yield is 8.32%. Note that the current yield only takes into account the expected interest payments. It completely ignores expected price changes (capital gains or losses). Therefore, it is a useful return measure primarily for those who are most concerned with earning income from their portfolio. It is not a good measure of return for those looking for capital gains. Furthermore, the current yield is a useless statistic for zero-coupon bonds.

The Yield to Maturity on a Payment Date

Unlike the current yield, the yield to maturity (YTM) measures both current income and expected capital gains or losses. The YTM is the internal rate of return of the bond, so it measures the expected compound average annual rate of return if the bond is purchased at the current market price and is held to maturity. In this section, the calculations will only work on a coupon payment date. If you wish, you can jump ahead to see how to use the Yield() function to calculate the YTM on any date.

In the case of our example bond, the current yield understates the total expected return for the bond. As we saw in the bond valuation tutorial, bonds selling at a discount to their face value must increase in price as the maturity date approaches. The YTM takes into account both the interest income and this capital gain over the life of the bond.

There is no formula that can be used to calculate the exact yield to maturity for a bond (except for trivial cases). Instead, the calculation must be done on a trial-and-error basis. This can be tedious to do by hand. Fortunately, the Rate() function in Excel can do the calculation quite easily. Technically, you could also use the IRR() function, but there is no need to do that when the Rate() function is easier and will give the same answer.

To calculate the YTM (in B14), enter the following formula:

=RATE(B5*B8,B3/B8*B2,-B10,B2)

You should find that the YTM is 4.75%.

But wait a minute! That just doesn't make any sense. We know that the bond carries a coupon rate of 8% per year, and the bond is selling for less than its face value. Therefore, we know that the YTM must be greater than 8% per year. You need to remember that the bond pays interest semiannually, and we entered Nper as the number of semiannual periods (6) and Pmt as the semiannual payment amount (40). So, when you solve for the Rate the answer is a semiannual yield. Since the YTM is always stated as an annual rate, we need to double this answer. In this case, then, the YTM is 9.50% per year. Change your formula in B14 to:

=RATE(B5*B8,B3/B8*B2,-B10,B2)*B8

So, always remember to adjust the answer you get from Rate() back to an annual YTM by multiplying by the number of payment periods per year.

The Yield to Call on a Payment Date

Many bonds (but certainly not all), whether Treasury bonds, corporate bonds, or municipal bonds are callable. That is, the issuer has the right to force the redemption of the bonds before they mature. This is similar to the way that a homeowner might choose to refinance (call) a mortgage when interest rates decline. In this section, the calculations will only work on a coupon payment date. If you wish, you can jump ahead to see how to use the Yield() function to calculate the YTC on any date.

Given a choice of callable or otherwise equivalent non-callable bonds, investors would choose the non-callable bonds because they offer more certainty and potentially higher returns if interest rates decline. Therefore, bond issuers usually offer a sweetener, in the form of a call premium, to make callable bonds more attractive to investors. A call premium is an extra amount in excess of the face value that must be paid in the event that the bond is called before maturity.

The picture below is a screen shot (from the FINRA TRACE Web site on 8/17/2007) of the detailed information on a bond issued by Union Electric Company. Notice that the call schedule shows that the bond is callable once per year, and that the call premium declines as each call date passes without a call. If the bond is called after 12/15/2015 then it will be called at its face value (no call premium).

It should be obvious that if the bond is called then the investor's rate of return will be different than the promised YTM. That is why we calculate the yield to call (YTC) for callable bonds.

The yield to call is identical, in concept, to the yield to maturity, except that we assume that the bond will be called at the next call date, and we add the call premium to the face value. Let's return to our example:

Assume that the bond may be called in one year with a call premium of 3% of the face value. What is the YTC for the bond?

I have already entered this additional information into the spreadsheet pictured above. The formula in B15 will be the same as for the YTM, except that we need to use 2 periods for NPer, and the FV will include the 3% call premium:

=RATE(B6*B8,B3/B8*B2,-B10,B2*(1+B7))*B8

Remember that we are multiplying the result of the Rate() function by the payment frequency (B8) because otherwise we would get a semiannual YTC. Note that the yield to call on this bond is 15.17% per year.

Now, ask yourself which is more advantageous to the issuer: 1) Continuing to pay interest at a yield of 9.50% per year; or 2) Call the bond and pay an annual rate of 15.17%? Obviously, it doesn't make sense to expect that the bond will be called as of now since it is cheaper for the company to pay the current interest rate.

Us Savings Bond Calculator Wizard

The YTM and YTC Between Coupon Payment Dates

As noted above, a major shortcoming of the Rate() function is that it assumes that the cash flows are equally distributed over time (say, every 6 months). However, bonds only pay interest twice a year, so there are only 2 days per year that the Rate() function will give the correct answer. On any other date, you need to use the Yield() function. Note that this function (as was the case with the Price() function in the bond valuation tutorial) is built into Excel 2007. However, if you are using Excel 2003 or earlier, you need to make sure that you have the Analysis ToolPak add-in installed and enabled (go to Tools » Add-ins and check the box next to Analysis ToolPak).

The Yield function is defined as:

YIELD(settlement,maturity,rate,pr,redemption,frequency,basis)

where settlement is the date that you take ownership (typically 3 business days after the trade date), maturity is the maturity date, rate is the annual coupon rate, pr is the current market price as a percentage of the face value, redemption is the amount that will be paid by the issuer at maturity as a percentage of the face value, frequency is the number of coupon payments per year, and basis is the day count basis to use. Note that the dates must be valid Excel dates, but they can be formatted any way you wish. Also, both pr and redemption are percentages entered in decimal form. That is, 96 indicates 96% so don't enter 0.96 even if you format it as a percentage.

Our worksheet needs a little more information to use the Yield() function, so set up a new worksheet that looks like the one in the picture below:

Note that I've had to add exact dates for the settlement date and the maturity date, rather than just entering a number of years as we did before. Also, since industry practice (which the Yield() function uses) is to quote prices as a percentage of the face value, I have added 100 for the redemption value in B3. Finally, I have added a row (B11) to specify the day count basis. In this case, we are using the 30/360 day count methodology, which Excel specifies as 0.

With that additional information, using the Yield() function to calculate the yield to maturity on any date is simple. Insert the following function into B18:

=YIELD(B6,B7,B4,B13,B3,B10,B11)

and you will find that the YTM is 9.50%. Notice that we didn't need to make any adjustments to account for the semiannual payments. The Yield() function takes annual arguments, and uses the Frequency argument to adjust them automatically. It also returns an annualized answer.

Calculating the yield to call is done in the same way, except that we need to add the call premium to the redemption value, and use the next call date in place of the maturity date. Enter the following function into B19:

=YIELD(B6,B8,B4,B13,B3*(1+B9),B10,B11)

You should find that the YTC is 15.17%.

As noted, the nice thing about the Yield() function is that it works correctly on any day of the year. To see this, change the settlement date to 12/15/2007 (halfway through the current coupon period). You should find that the YTM is still 9.50%, but the YTC is now 17.14%.

Make-Whole Call Provisions

Savings Bond Calculator Program

The above discussion of callable bonds assumes the old-fashioned type of call. However, for the last 15 years or so, corporations have typically used a 'make-whole' type of call. To learn about those, please see my tutorial for make-whole call provisions.

Ee Savings Bond Calculator Free

I hope that you have found this tutorial to be helpful. If you wish, you can return to my Excel TVM tutorials, or view my Excel Bond Valuation tutorial.

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