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Maintenance Update 06 20 2004

Calculator update notes for 6-30-2004.

Financial Calculator Update 6/30/2004

The quarterly update for 6/30/2004 has quite a few changes. Most of the changes are nice enhancements, but are not required for your calculators to continue to work properly. We have further refined our support of the MacIntosh Safari browser. If you have users on the Macintosh platform, we would strongly encourage you to install this update.

If you have not updated your calculators in a while you should definitely refresh your existing HTML calculator pages. All updates are cumulative, so if you start fresh with this update you will have all previous calculator updates as well. If you would like, you can review our 3/31/2004 update: 3/31/2004 Update. (The 6/30/2004 update includes all changes included in previous updates, you do not need to download any other updates to have the most current versions of all of the calculator components.)

Update instructions*:

  1. Download the latest version of your calculators from your download site, found on your update e-mail notice.
  2. Execute the Calc.exe file from your download. This is a self-extracting zip file. (Or unzip the Calc.zip file if you are using a non-windows platform.)
  3. When prompted for a directory, you may use the default of "java" or enter your own. It is recommended that you extract the update to a new directory and then move the required files to your production environment. One directory will be created. It will have three subdirectories.
  4. Replace the contents of your current KJEgui, KJEgraph and KJEcalculation directories with the new version.
  5. Replace your current dinkytown.jar file with the new version.
  6. Replace all files with the extension "class" with the new version.
  7. Make required changes to any HTML documents as described in this document or replace all of your existing HTML documents and re-apply your web-site custom changes.

*Please note, if you have a Servlet or other custom deployment (other than the custom formatted delivery described below), installation instructions for your package will found on your download page.

Update for custom formatted delivery**:

**Custom formatted delivery is a special option that you can add to your maintenance update service. With this option we can apply an HTML, JSP, CFM or ASP template to your calculator pages and their reports before the update is sent to you. You will then receive your calculator pages with all of your site formatting in place, without any rework to include changes that have been made to the pages deployed on your server. If you are interested in using custom formatted delivery, please contact us at (612) 331-2291, or for more information.

  1. Download the latest version of your calculators from your download site, found on your update e-mail notice.
  2. Execute the Calc.exe file from your download. This is a self-extracting zip file. (Or unzip the Calc.zip file if you are using a non-windows platform.)
  3. When prompted for a directory, you may use the default of "c:\java" or enter your own. It is recommended that you extract the update to a new directory and then move the required files to your production environment. One directory will be created. It will have three subdirectories.
  4. Replace the contents of your current "java" directory (including the KJEgui, KJEgraph and KJEcalculation directories) with the new version.

All pages will be custom formatted to your site, no further integration or modification of the calculators is required. Please note, if your custom delivery uses Active Server Pages (ASP), Java™ Server Pages (JSP) or Cold Fusion (CFM) the respective ASP, JSP or CFM pages will be in place of your HTML documents for all calculator main pages. Report templates will remain in HTML documents (these documents are not called by your server, but instead used by the applet in the main calculator page).

To clear your Browser's cache:

When you test the new version of the calculators, make sure that the browser you are using uses the new files instead of any it may have in its cache. You may need to clear the browser's cache manually to ensure the new versions are loaded.

Internet Explorer:

Choose "Internet Options" under the "Tools" menu and on the "General" tab click on the "Delete Files…" button. Click "Ok" when prompted if you wish to delete all temporary files. Close this dialog box, and all open Internet Explorer windows. Your Cache should then be cleared.

Netscape:

Choose "Preferences" under the "Edit" menu. Click on the "Advanced" category and then "Cache" option which appears under it. Click the "Clear Memory Cache" button, then click the "Clear Disk Cache" button.)

Master Changes (HTML Modification required, affects all calculators.)

    There are no changes in this update that affect all calculators that affect the HTML documents. Specific calculators have had changes, for more information please see below.

Master Changes (no HTML changes required affects all calculators but is limited to java class files.)

  1. APPLET ONLY
     A new message has been added for Netscape 6 browsers. This message appears directly under the report. Netscape 6.x has had issues with Java to Javascript communication that is required for our report generation. The workaround, previously offered, provided a button in the upper left hand corner of the window. This report generation provided limited viewing capability, no print capability, and overall poor page rendering. Netscape's parent has officially ended support for version 6 and they recommend all users of Netscape 6 upgrade to the latest version. Rather than continue support of Netscape 6 and the associated limitations, we have decided to add a message instructing users to upgrade their browser.

    The message reads:
    Netscape 6 is unable to support our detailed reports. Please upgrade to Netscape 7.

    The “Calculate” and “View Report” buttons will be hidden from the users if they are using Netscape 6. All other aspects of the calculator remain fully function in Netscape 6.

  2. APPLET ONLY
    All calculators have been reviewed for the Safari browser available on the MacIntosh. Adjustments have been made to improve graph rendering and the graphical user interface. If you or your visitors use the MacIntosh Safari browser, we would recommend you upgrade your calculators with this release. No changes to any HTML documents are required. Please see the instructions above for moving the class files and the dinkytown.jar file.

Updates that require modifications to HTML documents

  1. Adjustable rate mortgage: MortgageAdjustable.html: A new field has been added to allow you to enter the number of months before the first adjustment will take place. The following definitions have also been added

    Months before first adjustment
    This is the number of months that the interest rate is fixed. After this time has pasted the interest rate will be subject to rate adjustments. If you enter zero in this field, we assume that the rate will begin making adjustments after initial period of time between adjustments have passed. If any number other than zero is entered, the first adjustment will take place at that time, and adjustments will happen at the frequency entered in the "months between adjustments" field.

    Adjustable Rate Mortgage (ARM)
    This calculator shows a fully amortizing ARM which is the most common type of ARM. The monthly payment is calculated to payoff the entire mortgage balance at the end of the term. The term is typically 30 years. After any fixed interest rate period has passed, the interest rate and payment adjusts annually. A Fully Amortizing ARM will also have a maximum rate that it will not exceed. Below is a list of the most common types of Fully Amortizing ARMs.

    Common Adjustable Rate Mortgages
    ARM TypeMonths Fixed
    10/1 ARMFixed for 120 months, adjusts annually for the remaining term of the loan.
    7/1 ARMFixed for 84 months, adjusts annually for the remaining term of the loan.
    5/1 ARMFixed for 60 months, adjusts annually for the remaining term of the loan.
    3/1 ARMFixed for 36 months, adjusts annually for the remaining term of the loan.
    1 year ARMFixed for 12 months, adjusts annually for the remaining term of the loan.

  2. Roth IRA Conversion (RothTransfer.html) The default age for retirement has been changed to 65 from 55.

  3. Retirement Planner, Retirement Pension Planner, CDN Retirement Planner (RetirementPlan.html, RetirementPlan3.html, CARetirementPlan.html): Default “percent of income required at retirement” has been changed to 90%. This reflects a more accurate requirement of 90% of your current living expenses will remain once retirement begins. The acceptable entry range of 50% to 150% remains. The definition for this item has been changed so it no longer references the old default of 70%.

  4. Minor updates to the definitions of the following calculators has occurred. These changes were limited to minor punctuation and minor changes in grammar.
    1. TaxMargin.html
    2. TaxEZ1040.html
    3. Tax1040.html
    4. RetireBeneficiary.html
    5. Retire72T.html
    6. Retire72Alt.html
    7. Payroll.html
    8. MortgageTaxes.html
    9. Millionaire.html
    10. EstatePlan.html

  5. Minor updates to the reports of the following calculators has occurred. These changes were limited to minor punctuation and minor changes in formatting.
    1. RegularIRACalculation.html
    2. MortgageTaxesCalculation.html

  6. Social Security (SocialSecurity.html), new definition has been added:

    Social Security income
    Social Security is based on a sliding scale depending on your income, how long you work and at what age you retire. Social Security benefits can automatically increase each year based on increases in the Consumer Price Index. Including a spouse increases your Social Security benefits up to, but not over, the maximum. This calculator provides only an estimate of your benefits. Your actual benefit may be higher or lower depending on your work history and the complete compensation rules used by Social Security.

    SocialSecurityCalculation.html (apostrophe added to years):

    This is SOCIAL_AT_RETIRE_PERCENT of your final year's income of HOUSEHOLD_INCOME_AT_RETIRE.

  7. Home Budget (HomeBudget.html): “Company savings plan” changed to: “Company retirement savings plan”

  8. Payroll Deductions (Payroll.html): The definitions for state and local taxes has been updated to better describe how allowances affect the calculation. The new definition is:

    State and Local Taxes: This is the percentage that will be deducted for state and local taxes. We take your gross pay, minus $3,100 per allowance, times this percentage to calculate your estimated state and local taxes. Please note: this calculator can only estimate your state and local withholdings.

Updates that do not require modifications to HTML documents

  1. 1040 Tax Estimator: (Tax1040.html) An error has been correct that incorrectly tabulates the long term capital tax if you only have long term capital gains or corporate dividends as income, and that income exceeds $58,100 for married couples filing jointly or $29,050 for single people.

  2. Canadian Mortgage Loan: (CAMortgageLoan.html) Now has the ability to hide the prepayment section of the input screen. Use the following parameter to hide the prepayment inputs:

    <PARAM name="SHOW_PREPAY" value="false">

  3. Loan Comparison Calculator: (CompareLoan.html) Now has the option to include (or not include) total interest paid and total of payments for each loan that is being compared. Add the following parameter to the CompareLoan.html page to turn this feature on (by default, this feature is turned off)

    <PARAM name="ADDITIONAL_OUTPUT"
    value="<TR><TD><b>Total of monthly payments </b> </TD>
    <TD> <B>TOTAL_PAYMENTS0</B> </TD>
    <TD> <B>TOTAL_PAYMENTS1</B> </TD>
    <TD> <B>TOTAL_PAYMENTS2</B> </TD></TR>
    <TR><TD><b>Interest paid over life of loan </b> </TD>
    <TD> <B>TOTAL_INTEREST0</B> </TD>
    <TD> <B>TOTAL_INTEREST1</B> </TD>
    <TD> <B>TOTAL_INTEREST2</B> </TD></TR>">

  4. Roth vs. Traditional IRA (RothvsRegular.html): Calculation allowed IRA owner to contribute even after attaining age 701/2. This update limits the age of retirement and contributions to 70. Since it is not possible to contribute to a Traditional IRA beyond 70 1/2 the comparison between the two types of IRAs is now limited to age 70 as well.

  5. Traditional IRA (RegularIRA.html) Calculation allowed traditional IRA owner to contribute $3,000 even if he/she earns less than that. A new error message has been added if this occurs:

    Your annual contribution cannot exceed your adjusted gross income.

  6. Rent vs. Buy (U.S.: MortgageRentvsBuy.html and Canadian: CAMortgageRentvsBuy.html): “Investment return” has been changed to “After-tax investment return”. The more accurately describes this entry field. No changes to the calculations were made. In addition the first sentence of the definition for this term was changed to: “The rate of return, after taxes, you could receive if you invested your closing costs and down payment instead of purchasing a home.”

  7. MAXIMUM_TERM parameter now setup for the following calculators:

    1. CAMortgageQualifier.html
    2. CAMortgageRentvsBuy.html
    3. CAMOrtgagePayoff.html

  8. 1040 Tax Estimator (Tax1040.html), misspelling on credit entry page corrected

  9. 1040 EZ (TaxEZ1040.html) Updated 2003 changed to 2004.

  10. How Important is Social Security? (NoSocial.html) The report columns have improved alignment.

  11. 72T Calculator: (Retire72T.html) The report columns have improved alignment.

  12. Asset Allocator: (AssetAllocator.html) Report error fixed where it opens a blank window (applet only).

  13. Mortgage Qualifier (MortgageQualifier.html) An error has been corrected that affected the total monthly payment qualification if the property tax rate was more than 2% and you were calculating for the total mortgage amount.

  14. Asset Allocator: (AssetAllocator.html) The report has been enhanced to show the textual description of the users selected economic outlook and volatility.