Patriot Bond Calculator

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Patriot Bond (Series EE) Value Calculator

(Refer to your bond or TreasuryDirect for the specific fixed rate at issue.)
// Set default current date to today window.onload = function() { var today = new Date(); var dd = String(today.getDate()).padStart(2, '0'); var mm = String(today.getMonth() + 1).padStart(2, '0'); //January is 0! var yyyy = today.getFullYear(); document.getElementById('currentDate').value = yyyy + '-' + mm + '-' + dd; }; function calculatePatriotBond() { var purchaseAmount = parseFloat(document.getElementById('purchaseAmount').value); var issueDateStr = document.getElementById('issueDate').value; var annualRate = parseFloat(document.getElementById('annualRate').value); var currentDateStr = document.getElementById('currentDate').value; // Input validation if (isNaN(purchaseAmount) || purchaseAmount <= 0) { document.getElementById('result').innerHTML = 'Please enter a valid positive purchase amount.'; return; } if (isNaN(annualRate) || annualRate <= 0) { document.getElementById('result').innerHTML = 'Please enter a valid positive annual fixed rate.'; return; } if (!issueDateStr || !currentDateStr) { document.getElementById('result').innerHTML = 'Please select both issue date and valuation date.'; return; } var issueDate = new Date(issueDateStr + 'T00:00:00'); // Add T00:00:00 to avoid timezone issues var currentDate = new Date(currentDateStr + 'T00:00:00'); if (currentDate < issueDate) { document.getElementById('result').innerHTML = 'The valuation date cannot be before the bond issue date.'; return; } var msPerYear = 1000 * 60 * 60 * 24 * 365.25; // Approximate milliseconds in a year var yearsSinceIssue = (currentDate.getTime() – issueDate.getTime()) / msPerYear; // Calculate total full months held for interest accrual var totalMonthsHeld = (currentDate.getFullYear() – issueDate.getFullYear()) * 12 + (currentDate.getMonth() – issueDate.getMonth()); if (currentDate.getDate() < issueDate.getDate()) { totalMonthsHeld–; } if (totalMonthsHeld = issueDate var annualRateDecimal = annualRate / 100; var semiAnnualRate = annualRateDecimal / 2; var currentValue = purchaseAmount; var doublingStatus = "Not yet doubled."; var maturityStatus = "Still earning interest."; var totalInterestEarned = 0; // Calculate value based on semi-annual compounding var numCompoundingPeriods = Math.floor(totalMonthsHeld / 6); currentValue = purchaseAmount * Math.pow(1 + semiAnnualRate, numCompoundingPeriods); var doubledValue = purchaseAmount * 2; // — Apply 20-Year Doubling Guarantee — if (yearsSinceIssue >= 20) { // Calculate value at exactly 20 years using the fixed rate var periodsAt20Years = Math.floor(20 * 12 / 6); var valueAt20YearsFixedRate = purchaseAmount * Math.pow(1 + semiAnnualRate, periodsAt20Years); var principalAfter20Years = Math.max(valueAt20YearsFixedRate, doubledValue); doublingStatus = "Guaranteed to double at 20 years."; // Now calculate value from 20 years to current date var remainingMonthsAfter20Years = totalMonthsHeld – (20 * 12); var remainingPeriodsAfter20Years = Math.floor(remainingMonthsAfter20Years / 6); // Ensure remainingPeriodsAfter20Years is not negative if (remainingPeriodsAfter20Years = 30) { // Calculate value at exactly 30 years var periodsAt20YearsFor30Yr = Math.floor(20 * 12 / 6); var valueAt20YearsFor30Yr = purchaseAmount * Math.pow(1 + semiAnnualRate, periodsAt20YearsFor30Yr); var principalAfter20YearsFor30Yr = Math.max(valueAt20YearsFor30Yr, doubledValue); var remainingPeriodsFor30Yr = Math.floor((30 * 12 – 20 * 12) / 6); var valueAt30Years = principalAfter20YearsFor30Yr * Math.pow(1 + semiAnnualRate, remainingPeriodsFor30Yr); currentValue = valueAt30Years; // Cap the value at its 30-year maturity value maturityStatus = "Matured at 30 years. No longer earning interest."; } totalInterestEarned = currentValue – purchaseAmount; var resultHtml = '

Bond Valuation Results:

'; resultHtml += 'Current Bond Value: $' + currentValue.toFixed(2) + "; resultHtml += 'Total Interest Earned: $' + totalInterestEarned.toFixed(2) + "; resultHtml += 'Years Held (approx): ' + yearsSinceIssue.toFixed(2) + ' years'; resultHtml += 'Doubling Status: ' + doublingStatus + "; resultHtml += 'Maturity Status: ' + maturityStatus + "; document.getElementById('result').innerHTML = resultHtml; } .calculator-container { font-family: 'Segoe UI', Tahoma, Geneva, Verdana, sans-serif; background-color: #f9f9f9; padding: 25px; border-radius: 10px; box-shadow: 0 4px 12px rgba(0, 0, 0, 0.1); max-width: 600px; margin: 30px auto; border: 1px solid #ddd; } .calculator-container h2 { text-align: center; color: #2c3e50; margin-bottom: 25px; font-size: 1.8em; } .calculator-form .form-group { margin-bottom: 18px; display: flex; flex-direction: column; } .calculator-form label { margin-bottom: 8px; color: #34495e; font-weight: bold; font-size: 1em; } .calculator-form input[type="number"], .calculator-form input[type="date"] { width: 100%; padding: 12px; border: 1px solid #ccc; border-radius: 6px; box-sizing: border-box; font-size: 1em; color: #333; } .calculator-form input[type="number"]:focus, .calculator-form input[type="date"]:focus { border-color: #007bff; outline: none; box-shadow: 0 0 5px rgba(0, 123, 255, 0.3); } .calculator-form small { color: #6c757d; margin-top: 5px; font-size: 0.85em; } .calculate-button { display: block; width: 100%; padding: 14px; background-color: #28a745; color: white; border: none; border-radius: 6px; font-size: 1.1em; font-weight: bold; cursor: pointer; transition: background-color 0.3s ease, transform 0.2s ease; margin-top: 25px; } .calculate-button:hover { background-color: #218838; transform: translateY(-2px); } .calculate-button:active { background-color: #1e7e34; transform: translateY(0); } .calculator-result { margin-top: 30px; padding: 20px; background-color: #e9f7ef; border: 1px solid #d4edda; border-radius: 8px; font-size: 1.1em; color: #155724; } .calculator-result h3 { color: #2c3e50; margin-top: 0; margin-bottom: 15px; font-size: 1.5em; text-align: center; } .calculator-result p { margin-bottom: 10px; line-height: 1.6; } .calculator-result p strong { color: #000; } .calculator-result .error { color: #dc3545; font-weight: bold; text-align: center; }

Understanding Patriot Bonds (Series EE Savings Bonds)

Patriot Bonds are a special designation given to Series EE savings bonds purchased between October 2001 and December 2011. While they carried a patriotic name in the wake of 9/11, their underlying mechanics are identical to standard Series EE bonds. These bonds are a safe, low-risk investment backed by the full faith and credit of the U.S. government, designed to help individuals save money over the long term.

How Series EE Bonds Work

Series EE bonds have a few key characteristics that determine their value:

  1. Fixed Interest Rate: When you purchase a Series EE bond, it's issued with a fixed interest rate that it will earn for the first 20 years. This rate is set at the time of purchase and does not change.
  2. Semi-Annual Compounding: Interest on EE bonds accrues monthly but is compounded semi-annually. This means that every six months, the earned interest is added to the bond's principal, and future interest is then calculated on this new, larger principal.
  3. 20-Year Doubling Guarantee: A significant feature of Series EE bonds issued after May 2003 is a guarantee that they will at least double in value after 20 years. If the fixed interest rate alone doesn't achieve this doubling, the U.S. Treasury makes a one-time adjustment at the 20-year mark to ensure the bond's value is twice its original purchase price.
  4. 30-Year Maturity: Series EE bonds continue to earn interest for a total of 30 years from their issue date. After 30 years, the bond matures and stops earning interest, even if you haven't redeemed it.
  5. Tax-Deferred Interest: The interest earned on Series EE bonds is exempt from state and local income taxes. Federal income tax on the interest can be deferred until you redeem the bond or it reaches final maturity, whichever comes first. In some cases, if used for qualified higher education expenses, the interest may be entirely tax-free at the federal level.

Finding Your Bond's Information

To use the calculator effectively, you'll need two crucial pieces of information from your bond:

  • Original Purchase Amount: This is the face value of the bond, typically $50, $100, $1,000, etc.
  • Bond Issue Date: The month and year the bond was purchased. This is usually printed on the bond itself.
  • Annual Fixed Rate: This is the rate the bond was issued at. For paper bonds, this might not be explicitly printed but can be looked up on the TreasuryDirect website using the issue date. For electronic bonds, it's readily available in your TreasuryDirect account.

How to Use the Patriot Bond Calculator

Our Patriot Bond Calculator helps you estimate the current value of your Series EE bond, taking into account its fixed interest rate, semi-annual compounding, and the crucial 20-year doubling guarantee. Follow these steps:

  1. Original Purchase Amount: Enter the initial amount you paid for the bond (e.g., 100 for a $100 bond).
  2. Bond Issue Date: Select the exact date your bond was issued.
  3. Annual Fixed Rate (%): Input the annual fixed interest rate your bond earns. This is critical for accurate calculation.
  4. Date for Valuation: Choose the date for which you want to know the bond's value. This defaults to today's date.
  5. Calculate Bond Value: Click the button to see your bond's estimated current value, total interest earned, and its status regarding doubling and maturity.

Example Calculation

Let's consider a Patriot Bond with the following details:

  • Original Purchase Amount: $100
  • Bond Issue Date: November 1, 2002
  • Annual Fixed Rate: 2.6%
  • Date for Valuation: November 1, 2023

When you input these values into the calculator:

  • The bond has been held for exactly 21 years.
  • At 20 years (November 1, 2022), the bond's value calculated by its fixed rate would be approximately $167.53. However, due to the 20-year doubling guarantee, its value was adjusted to $200.00 at that point.
  • For the subsequent year (from November 2022 to November 2023), the bond continues to earn interest on the new $200 principal at the 2.6% annual rate (compounded semi-annually).
  • The calculator would show a Current Bond Value of approximately $205.23, with Total Interest Earned of $105.23. It would also indicate that the bond "Doubled at 20 years" and is "Still earning interest" (as it hasn't reached 30 years).

This calculator provides a valuable tool for tracking the growth of your Patriot Bonds and understanding their unique features.

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