CINXE.COM
Financial Calculators | Investopedia
<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml" xml:lang="en" version="XHTML+RDFa 1.0" dir="ltr"> <head profile="http://www.w3.org/1999/xhtml/vocab"><script type="text/javascript" src="/_static/js/bundle-playback.js?v=HxkREWBo" charset="utf-8"></script> <script type="text/javascript" src="/_static/js/wombat.js?v=txqj7nKC" charset="utf-8"></script> <script>window.RufflePlayer=window.RufflePlayer||{};window.RufflePlayer.config={"autoplay":"on","unmuteOverlay":"hidden"};</script> <script type="text/javascript" src="/_static/js/ruffle/ruffle.js"></script> <script type="text/javascript"> __wm.init("https://web.archive.org/web"); __wm.wombat("http://www.investopedia.com:80/calculator/","20160711012403","https://web.archive.org/","web","/_static/", "1468200243"); </script> <link rel="stylesheet" type="text/css" href="/_static/css/banner-styles.css?v=S1zqJCYt" /> <link rel="stylesheet" type="text/css" href="/_static/css/iconochive.css?v=3PDvdIFv" /> <!-- End Wayback Rewrite JS Include --> <link rel="dns-prefetch" href="https://web.archive.org/web/20160711012403/http://i.investopedia.com/public"> <link rel="preconnect" href="https://web.archive.org/web/20160711012403/http://i.investopedia.com/public"> <link rel="dns-prefetch" href="www.investopedia.com"> <link rel="preconnect" href="www.investopedia.com"> <link rel="dns-prefetch" href="v1.investopedia.com"> <link rel="preconnect" href="v1.investopedia.com"> <link rel="dns-prefetch" href="ajax.googleapis.com"> <link rel="preconnect" href="ajax.googleapis.com"> <link rel="dns-prefetch" href="idsync.rlcdn.com"> <link rel="dns-prefetch" href="cdn.feedbackify.com"> <link rel="dns-prefetch" href="ic.tynt.com"> <link rel="dns-prefetch" href="rc.rlcdn.com"> <link rel="dns-prefetch" href="z.moatads.com"> <link rel="dns-prefetch" href="ak.sail-horizon.com"> <link rel="dns-prefetch" href="pagead2.googlesyndication.com"> <script language="javascript" type="text/javascript"> var sem_pageview = false; var sem_ocode = '9999'; var sem_ldid = ''; var sem_sh = ''; function updateSemVariable(query) { if (query[1] === undefined) { return; } switch(query[0]) { case 'o': sem_ocode = query[1]; break; case 'ldid': sem_ldid = query[1]; break; case 'sh': sem_sh = query[1]; break; } } function getCookie(cname) { var name = cname + "="; var ca = document.cookie.split(';'); for (var i = 0; i < ca.length; i++) { var c = ca[i]; while (c.charAt(0) == ' ') c = c.substring(1); if (c.indexOf(name) == 0) return c.substring(name.length,c.length); } return ""; } function getSemCookie() { var queryStr = getCookie('semuser'); if (queryStr == "") { return; } sem_pageview = true; var queries = queryStr.split("&"); for (var i = 0, l = queries.length; i < l; i++) { var query = queries[i].split('='); updateSemVariable(query); } } getSemCookie(); var updateAup = function(aUp) { aUp = aUp.replace("INV-NA", "invsem-serp-ds"); var utms = null; if (typeof getUrlParam === "function") { try { utms = getUrlParam("utm_source"); } catch (e) {} } var aUp_arr = aUp.split("/"); var last = aUp_arr.pop(); aUp_arr.push((utms !== null ? utms : "dir") + "_" + (typeof sem_ocode !== "undefined" ? sem_ocode : 0)); if (aUp_arr.length > 3) { aUp_arr[3] = last; } return aUp_arr.join("/"); }; if (typeof googletag !== "undefined") { googletag.cmd.push( function() { if ((typeof sem_pageview !== 'undefined') && (sem_pageview == true)) { var processArgs = function(arguments) { if (typeof arguments === "object") { for (var i = 0; i < arguments.length; i++) { if (arguments[i].indexOf("8397") > -1) { arguments[i] = updateAup(arguments[i]); break; } } } return arguments; }; googletag.defineSlot = (function() { var orig_func = googletag.defineSlot; return function() { return orig_func.apply(this, processArgs(arguments)); }; })(); googletag.defineOutOfPageSlot = (function() { var orig_func = googletag.defineOutOfPageSlot; return function() { return orig_func.apply(this, processArgs(arguments)); }; })(); } }); } </script> <script type="text/javascript"> var dataLayer = []; if (typeof _pageTaxonomy !== "undefined") { dataLayer.push(_pageTaxonomy); } </script><script type="text/javascript"> var pageviewIDEntity = ""; function S4() { return (((1+Math.random())*0x10000)|0).toString(16).substring(1); } var pageviewID = new Date().getTime() + "-" + S4() + S4() + pageviewIDEntity; dataLayer.push({'pageviewID' : pageviewID}); </script><script type="text/javascript"> window.adblock = false; function hasAdBlocker() { window.adblock = true; } function isAdBlocked () { return window.adblock; } </script> <script async src="//web.archive.org/web/20160711012403js_/http://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js" onerror="hasAdBlocker();"></script> <script type="text/javascript"> /* observer */!function(){window.adonis=window.adonis||{},window.adonis.scriptStatuses={};var t=function(){var t,n="NEW_SCRIPT_EVENT";window.CustomEvent?t=new CustomEvent(n,{detail:{}}):(t=document.createEvent("CustomEvent"),t.initCustomEvent(n,!0,!0,{})),window.dispatchEvent(t)};document.addEventListener("load",function(n){n.target&&"SCRIPT"===n.target.nodeName&&(window.adonis.scriptStatuses[n.target.src]="load",t())},!0),document.addEventListener("error",function(n){n.target&&"SCRIPT"===n.target.nodeName&&(window.adonis.scriptStatuses[n.target.src]="error",t())},!0)}(); </script> <title>Financial Calculators | Investopedia</title> <meta name="application-name" content="Investopedia"/> <meta http-equiv="X-UA-Compatible" content="IE=edge"/> <meta http-equiv="X-UA-Compatible" content="IE=9"/> <!-- Nativo --> <meta property="fb:pages" content="105109162854142, 925483520864421"/> <meta property="fb:app_id" content="371867692868423"/> <meta name="viewport" content="width=device-width, initial-scale=1"/> <!-- Meta tags --> <meta name="description" content="Investopedia features a number of financial calculatorsthat will help you calculate anything from compoundannual growth rate to how much you'll need to save to become a millionaire."/> <meta name="robots" content="index,follow"/> <meta property="og:locale" content="en_US"/> <meta property="og:title" content="Financial Calculators | Investopedia"/> <meta property="og:description" content="Investopedia features a number of financial calculatorsthat will help you calculate anything from compoundannual growth rate to how much you'll need to save to become a millionaire."/> <meta property="og:url" content="https://web.archive.org/web/20160711012403/http://www.investopedia.com/calculator/"/> <meta property="og:site_name" content="Investopedia"/> <meta property="og:type" content="website"/> <meta property="og:image" content="https://web.archive.org/web/20160711012403im_/http://i.investopedia.com/facebook/investopedia-facebook-image.gif"/> <meta property="fb:admins" content="100003532063336"/> <!-- End Meta tags --> <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/> <link rel="apple-touch-icon" href="https://web.archive.org/web/20160711012403im_/http://i.investopedia.com/public/img/apple-touch-icon.png"/> <link rel="canonical" href="https://web.archive.org/web/20160711012403/http://www.investopedia.com/calculator/"/> <link rel="shortcut icon" href="https://web.archive.org/web/20160711012403im_/http://i.investopedia.com/public/img/favicon.ico" type="image/vnd.microsoft.icon"/> <link rel="stylesheet" type="text/css" href="https://web.archive.org/web/20160711012403cs_/http://i.investopedia.com/public/css/tablet.css?v=5.392"/> <!-- Bof Taxonomy --> <!-- Page Taxonomy --> <script type="text/javascript" data-id="script_taxonomy"> //<![CDATA[ var _pageTaxonomy = {"Hashkey":null,"Path":"/calculator/","Channel":"Investing","SubChannel":"Investing Strategy","Advertising":"Investing","SubAdvertising":"Investing","DfpTarget":"Investing/Investing","Tags":[],"Taggroup":[],"Type":"Calculator","Lucrativeness":null,"Timelessness":"Timeless","Feature":null,"Design":null,"InterestLevel":null,"Index":"True","NoIndexParams":"False","Follow":"True","Master":"False","ServerName":"tax001"}; //]]> </script> <!-- End Page Taxonomy --> <!-- Eof Taxonomy --> <script type="text/javascript"> var idc_slots = {}; idc_slots.slots = ["AdSlot_PG-Background","AdSlot_AF-Top-Leaderboard","AdSlot_PG-Web-Bar","AdSlot_IC-BelowContent","AdSlot_AF-Right-Multi","AdSlot_BF-Right-Multi","AdSlot_BF-Right-Button1","AdSlot_BF-Right-Button2","AdSlot_BF-Right-Button3","AdSlot_BF-Right-Button4","AdSlot_AF-Right-Textlink1","AdSlot_AF-Right-Textlink2","AdSlot_AF-Right-Textlink3"]; var hash = window.location.hash; if (typeof hash.startsWith === "function") { if (hash.startsWith("#ec") || hash.startsWith("#ra")) { idc_slots.includes = []; } } idc_slots.build = function(slot) { return "/8397/INV-NA/Investing/Investing/position/Calculator".replace("position", slot.position); }; </script> <script type="text/javascript"> var idc_device = {"desktop":true,"tablet":false,"phone":false}; </script> <!--js start--> <script src="https://web.archive.org/web/20160711012403js_/https://ajax.googleapis.com/ajax/libs/jquery/1.7.2/jquery.min.js"></script> <script language="javascript" type="text/javascript" src="https://web.archive.org/web/20160711012403js_/http://i.investopedia.com/public/js/main.min.js?v=5.392"></script> <script language="javascript" type="text/javascript" src="https://web.archive.org/web/20160711012403js_/http://i.investopedia.com/dest/js/inv.min.js?v=5.392"></script> <script type="text/javascript"> var invadv = {}; invadv.tags_parent = 0; invadv.question_tags = 0; invadv.expertise_tags = 0; invadv.total_answers = 0; invadv.is_advisor_logged_in = 0; invadv.percent_helpful = 0; invadv.job_title = 0; invadv.fee_structures = 0; invadv.aum = 0; dataLayer.push({'invadv' : invadv}); </script> <script> var initLayer = _pageTaxonomy; initLayer['country'] = invGCookie.geoCountry(); initLayer['state'] = invGCookie.geoStateProvince(); initLayer['asset_version'] = '5.392'; initLayer['device'] = 'desktop'; dataLayer.push(initLayer); </script> <script data-id="script_optimizely" src="//web.archive.org/web/20160711012403js_/http://cdn.optimizely.com/js/3135740712.js"></script> <script language="javascript" type="text/javascript" src="https://web.archive.org/web/20160711012403js_/http://i.investopedia.com/public/js/streamsense.min.js?v=5.392"></script> <!-- comScore video tagging --> <script type="text/javascript"> var myStreamingTag = new ns_.StreamingTag( { customerC2: '18280457' } ); var metadata = { ns_st_ci: "0", // Content Asset ID c3: "www.investopedia.com", // Dictionary Classification Value c4: "*null", // Unused Dictionary Classification Value c6: "*null" // Unused Dictionary Classification Value }; </script> <script type="text/javascript"> /* Sequential Messaging Allowance * sequentialMessaging=A will show the same ad over and over during 24 hours * sequentialMessaging=B will show different ads in order of B1, B2, B3 .... */ var sequentialMessaging = getCookie('sequentialMessaging') || null; if(sequentialMessaging) { if ( sequentialMessaging.indexOf('B') > -1 ) { if ( sequentialMessaging == 'B' ) { setCookie('sequentialMessaging', 'B1'); }else { var seqPageNum = parseInt(sequentialMessaging.replace("B", "")); seqPageNum++; setCookie('sequentialMessaging', 'B' + seqPageNum ); } } } var AFTopLeaderboard = null; var AFRightMulti = null; var AF_Right_Multi_Mapping; </script> <!-- DFP head --> <script> var hasFlash = (function() { try { if (typeof navigator.plugins != "undefined" && typeof navigator.plugins["Shockwave Flash"] == "object") { return true; } else if (typeof window.ActiveXObject != "undefined") { new ActiveXObject("ShockwaveFlash.ShockwaveFlash"); return true; } } catch (e) { } return false; })(); </script> <script type="text/javascript"> var noDfp = false; var ecLayout = false; /* remove ads for email capture layout, here the bc-textnote won't be removed */ if (window.location.hash.substring(0, 3) === "#ec") { noDfp = true; ecLayout = true; /* set welcome_ad is viewed */ var invWelcomeAd_CookieExpiry = 3600000 * 24; var invCookieExpires = new Date(); var host = window.location.host.toLowerCase().replace('www.',''); invCookieExpires.setTime(invCookieExpires.getTime() + invWelcomeAd_CookieExpiry); setCookie('AdViewed', '1', { expires: invCookieExpires, path: '/', domain: host }); } if (window.location.hash === "#ra") { noDfp = true; ecLayout = false; } </script> <script data-id="script_dfp" type="text/javascript"> function GetRequest() { var url = location.search; //get query string var theRequest = new Object(); if (url.indexOf("?") != -1) { var str = url.substr(1); var strs = str.split("&"); for(var i = 0; i < strs.length; i ++) { theRequest[strs[i].split("=")[0]]=unescape(strs[i].split("=")[1]); } } return theRequest; } /** * set utm_source , utm_medium , utm_campaign , utm_content , utm_term value. */ var requestObject = GetRequest(); var utm_source = typeof requestObject['utm_source'] == 'undefined' ? '' : requestObject['utm_source'], utm_medium = typeof requestObject['utm_medium'] == 'undefined' ? '' : requestObject['utm_medium'], utm_campaign = typeof requestObject['utm_campaign'] == 'undefined' ? '' : requestObject['utm_campaign'], utm_content = typeof requestObject['utm_content'] == 'undefined' ? '' : requestObject['utm_content'], utm_term = typeof requestObject['utm_term'] == 'undefined' ? '' : requestObject['utm_term']; function getDfpReferrerHost() { var ref = document.referrer; if ((ref == null) || (ref.length == 0)) return 'Direct'; ref = ref.toLowerCase(); if (ref.indexOf('http://') == 0) ref = ref.substring(7); if (ref.indexOf('https://') == 0) ref = ref.substring(8); if (ref.indexOf('/') >= 0) ref = ref.substring(0, ref.indexOf('/')); return ref; } function getDfpReferrerSearch() { var refHost = getDfpReferrerHost(); if (refHost.indexOf('.google.') >= 0) return 'True'; if (refHost.indexOf('.bing.') >= 0) return 'True'; if (refHost.indexOf('.yahoo.') >= 0) return 'True'; if (refHost.indexOf('.ask.') >= 0) return 'True'; if (refHost.indexOf('.aol.') >= 0) return 'True'; return 'False'; } function trackUniqid(){ var uid = new Date().getTime().toString(16); return uid + Math.random().toString().slice(-8) + Math.random().toString().slice(-8) + Math.floor((1 + Math.random()) * Math.pow(16, (16 - uid.length))).toString(16).slice(1); } var biPageViewID = trackUniqid(); var trafficSourceParam = getUrlParam('source') || getCookie('d_src'); // bugzilla #351848 - Custom Target for DFP : Browser Height Detection function getScreenHeight() { if(isNaN($(window).height())){ return 0; } else { var _screen = $(window).height(); if (_screen < 250) { _screen = 200; } if (_screen >= 1950) { _screen = 2000; } _screen = Math.round(_screen/100)*100; return _screen; } } var h = getScreenHeight(); var dfp_spv = parseInt(getCookie('dfp_spv') || 0) + 1; setCookie('dfp_spv', dfp_spv); simpUrl = "&t="; targetingList = { 'd_pv': biPageViewID, 'requestSource': "GPT", 'infiniteScroll': 'false', 'BrowserHeight': String(h), 'Type': 'Calculator', 'URL': '/calculator/', 'Environment': 'Live', 'ReferrerHost': getDfpReferrerHost(), 'ReferrerSearch': getDfpReferrerSearch(), 'hasFlash': hasFlash ? 'True' : 'False', //Level1Adunit to Level3Adunit start 'Level1Adunit': 'INV-NA', 'Level2Adunit': 'Investing', 'Level3Adunit': 'Investing', 'spv': dfp_spv.toString(), 'rpv':(Math.floor(Math.random() * 100) + 1).toString(), 'page_url': 'https://web.archive.org/web/20160711012403/http://www.investopedia.com/calculator/?d_pv=' + biPageViewID, //output audience segments Bugzilla# 351853 'GUID' : typeof pageviewID !== "undefined" ? pageviewID : '0' } if(getUrlParam('adtest')) { targetingList.adtest = getUrlParam('adtest').toString(); } //UTM Start if ((trafficSourceParam != null) && (trafficSourceParam != '')) { targetingList.d_src = trafficSourceParam; } if (utm_source) { targetingList.utm_source = utm_source; } if (utm_medium) { targetingList.utm_medium = utm_medium; } if (utm_campaign) { targetingList.utm_campaign = utm_campaign; } if (utm_content) { targetingList.utm_content = utm_content; } if (utm_term) { targetingList.utm_term = utm_term; } //UTM End if ((typeof sem_pageview !== 'undefined') && (sem_pageview == true) && (typeof sem_ocode !== 'undefined')) { targetingList.ocode = sem_ocode; } for(targets in targetingList) { if (typeof isVideoOnPage != "undefined" && isVideoOnPage) { simpUrl += encodeURIComponent(encodeURIComponent(targets)) + encodeURIComponent("=") + encodeURIComponent(encodeURIComponent(targetingList[targets])) + encodeURIComponent("&"); } } simpUrl = "&t=" + encodeURIComponent(simpUrl); idc_targeting = targetingList || {}; var timeToSlotRenderEnded = Date.now(), slotRenderCount = 0; googletag.cmd.push( function() { googletag.pubads().addEventListener('slotRenderEnded', function(event) { try { if (event.slot.getSlotElementId().indexOf("BC-Textnote") > -1) return; // WARNING: This will be updated in the future but is used track render times for the idc library. slotRenderCount++; if (typeof idc_slots !== "undefined") { if (slotRenderCount == Object.keys(idc_slots.slots).length) { dataLayer.push({ 'event': 'event-all-slots-render-ended', 'eventLabel' : "true|"+slotRenderCount, 'eventValue': Date.now() - timeToSlotRenderEnded }); } } } catch (e) {} }); }); </script> <!-- End DFP head --> <!--js end--> <!-- Nativo --> <script type="text/javascript"> if(invGCookie.geoCountry() !== "IN") { var nativoScript = document.createElement('script'); nativoScript.type = 'text/javascript'; nativoScript.src = 'https://web.archive.org/web/20160711012403/http://a.postrelease.com/serve/load.js?async=true'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(nativoScript, s); } </script> <script type="text/javascript"> var _sf_async_config = _sf_async_config || {}; _sf_async_config.uid = 56959; _sf_async_config.domain = "www.investopedia.com"; _sf_async_config.useCanonical = true; _sf_async_config.flickerControl=false; var _sf_startpt = (new Date()).getTime(); </script> <script async src="//web.archive.org/web/20160711012403js_/http://static.chartbeat.com/js/chartbeat_mab.js"></script> </head> <!--shift_source: web001--> <body class="html not-front not-logged-in no-sidebars page-calculator" id="InvestingChannel"> <script type="text/javascript"> /* wrapper */!function e(t,n,r){function o(a,c){if(!n[a]){if(!t[a]){var d="function"==typeof require&&require;if(!c&&d)return d(a,!0);if(i)return i(a,!0);var s=new Error("Cannot find module '"+a+"'");throw s.code="MODULE_NOT_FOUND",s}var u=n[a]={exports:{}};t[a][0].call(u.exports,function(e){var n=t[a][1][e];return o(n?n:e)},u,u.exports,e,t,n,r)}return n[a].exports}for(var i="function"==typeof require&&require,a=0;a<r.length;a++)o(r[a]);return o}({1:[function(e,t,n){!function(){function t(){o&&console.log.apply(console,arguments)}var n=e(4),r=window.RTCPeerConnection||window.mozRTCPeerConnection||window.webkitRTCPeerConnection;if(!r||window.adonisGlobal&&"full"!==window.adonisGlobal.detectionLevel)return void n.reportEvent("bootstrap.ifw.rtc.absent");n.reportEvent("bootstrap.ifw.rtc.exists");var o="#adonis-logging"===window.location.hash,i=function(e){var t=function(){e===!0&&console.log.apply(console,arguments)},n=["script","img"];document.addEventListener("load",function(e){t("withinIframe load event",e.target),!e.target||"SCRIPT"!==e.target.nodeName&&"IMG"!==e.target.nodeName||(e.target._loadState="load")},!0),document.addEventListener("error",function(e){t("withinIframe error event",e.target),!e.target||"SCRIPT"!==e.target.nodeName&&"IMG"!==e.target.nodeName||(e.target._loadState="error")},!0),window.addEventListener("message",function(e){if(void 0!==e.data.iframeId){t("message received "+e.data.iframeId);var r=e.data,o=function(e){"loading"!==document.readyState?e():document.addEventListener("DOMContentLoaded",e)},i=function(e){var r={originIframeId:e.iframeId,readyState:document.readyState,requestData:[],cssData:[]},o=e.srcSubstrings;if(void 0!==o)for(var a=document.querySelectorAll(n.join(",")),c=0;c<a.length;c++){var d=a[c];if(d.src){var s=o.some(function(e){return-1!==d.src.indexOf(e)});if(s){if(void 0===d._loadState)return t("Wait for event from "+d.src),d.addEventListener("load",function(){i(e)}),void d.addEventListener("error",function(){i(e)});r.requestData.push({type:d.nodeName,src:d.src,state:d._loadState})}}}var u=e.displayTypes,f=e.cssAttributes;void 0!==u&&void 0!==f&&(a=document.querySelectorAll(u.join(",")),Array.prototype.forEach.call(a,function(e){var t=window.getComputedStyle(e),n={};f.forEach(function(e){n[e]=t.getPropertyValue(e)}),r.cssData.push({type:e.nodeName,id:e.id,"class":e.getAttribute("class"),cssAttributes:n})})),t("send response "+e.iframeId),parent.postMessage(r,"*")};o(function(){i(r)})}})},a=['<script type="text/javascript">(',i.toString(),")(",o.toString(),")<","/script>"].join(""),c=function(e,t,n,r){var o=Object.getOwnPropertyDescriptor(e.prototype,t);Object.defineProperty(e.prototype,t,{get:function(){return n(o.get,this,arguments)},set:function(){return r(o.set,this,arguments)},enumerable:!0})},d=function(e,t,n){return e.apply(t,n)},s=function(e,n,r){try{var o=r[0];if(-1!==o.indexOf("html")){var i=o.split(";"),c=i[1],d=parseInt(c)+a.length;i[1]=d.toString(),o=i.join(";"),o=o.replace("<head>","<head>"+a),r[0]=o}}catch(s){t(s)}return e.apply(n,r)};c(HTMLIFrameElement,"name",d,s);var u=function(e){var t=!1;if(e.src)if(0===e.src.indexOf("javascript:"))t=!0;else{var n=document.createElement("a");n.href=e.src;var r=n.host;r===window.location.host&&(t=!0)}return t},f=function(e,n,r){var o=e.apply(n,r);try{if(u(n)&&void 0===o._writeDecorated){o._writeDecorated=!0;var i=o.write;o.write=function(e){try{-1!==e.indexOf("<head>")?e=e.replace("<head>","<head>"+a):-1!==e.indexOf("<script")&&(e=e.replace(/(<script.*?>)/,a+"$1"))}catch(n){t(n)}return i.call(this,e)}}}catch(c){t(c)}return o},p=function(e,t,n){return e.apply(t,n)};c(HTMLIFrameElement,"contentDocument",f,p);var l=function(e,n,r){var o=e.apply(n,r);try{if(u(n)&&void 0===o.document._writeDecorated){o.document._writeDecorated=!0;var i=o.document.write;o.document.write=function(e){try{-1!==e.indexOf("<head>")?e=e.replace("<head>","<head>"+a):-1!==e.indexOf("<script")&&(e=e.replace(/(<script.*?>)/,a+"$1"))}catch(n){t(n)}return i.call(this,e)}}}catch(c){t(c)}return o},v=function(e,t,n){return e.apply(t,n)};c(HTMLIFrameElement,"contentWindow",l,v)}()},{4:4}],2:[function(e,t,n){var r=e(3);t.exports=r},{3:3}],3:[function(e,t,n){t.exports={REAL_STUN_HOST:"stun.xpanama.net:3478",TURNSIGNAL_HOST:"ts.p.xpanama.net:7000",STUNGUN_HOST:"sg.p.xpanama.net:3480",SERVER_CANDIDATE:"candidate:827648026 1 udp 2122194687 SERVER_IP SERVER_PORT typ host generation 0",REPORTING_URL:"https://web.archive.org/web/20160711012403/https://lb.statsevent.com/stats",REPORTING_RATE:.01,LOG_LEVEL:"error",REPORT_ERRORS:!0,MANIFEST_URL:"https://web.archive.org/web/20160711012403/https://sri.jsintegrity.com/manifest.json",MANIFEST_EXPIRATION_TIME:86400,AD_MARKER:"adonis-marker"}},{}],4:[function(e,t,n){function r(e){var t=new XMLHttpRequest,n=[s.REPORTING_URL,e].join("");t.open("GET",n,!0),t.send()}function o(e){r("/adonis_error?e="+e.toString())}function i(){return null!=window.ADONIS_BOOTSTRAP_STATS?window.ADONIS_BOOTSTRAP_STATS===!0:Math.random()<s.REPORTING_RATE}function a(e,t){if(c(e),i()){var n={website:window.location.hostname,key:e};null!=t&&(n.quantity=t),r(["/adonis_event/?event=",JSON.stringify(n)].join(""))}}function c(e){if(window.performance){var t={key:e,time_ms:Math.round(window.performance.now()),website:window.location.hostname};f.push(t)}}function d(){u.defineReadOnlyProperty("adonisBootstrapTiming",f)}var s=e(2),u=e(5),f=[];t.exports={reportError:o,reportEvent:a,saveTiming:d,shouldReport:i}},{2:2,5:5}],5:[function(e,t,n){function r(e,t){Object.defineProperty(window,e,{value:t,writable:!1})}function o(e,t){return!t||Number(t)<=e}function i(e){var t=(new Date).getTime()/1e3;return o(t,e)}var a=function(){var e=window.navigator.userAgent.toLowerCase(),t=/(chrome)[ \/]([\w.]+)/.exec(e)||/(firefox)[ \/]([\w.]+)/.exec(e);if(null!==t){var n=t[1],r=t[2],o=parseInt(r.split(".")[0]);if("chrome"===n&&o>=41||"firefox"===n&&o>=37)return!0}return!1},c=function(e){"loading"!==document.readyState?e():document.addEventListener("DOMContentLoaded",e)};t.exports={isSupportedBrowser:a,defineReadOnlyProperty:r,ready:c,isExpired:o,isExpiredNow:i}},{}]},{},[1]); </script> <!-- Current time is: 07/10/2016 07:08:28 pm --> <div class="page-wrapper"> <!-- Activity name for this tag: INV --> <script type="text/javascript" data-id="script_dfp_tracking"> var axel = Math.random()+""; var a = axel * 10000000000000; var img = document.createElement("img"); img.src = 'https://web.archive.org/web/20160711012403/http://pubads.g.doubleclick.net/activity;xsp=197334;ord='+ a +'?'; img.width = 1; img.height = 1; var body = document.getElementsByTagName("body")[0]; body.appendChild(img); </script> <noscript><img src="https://web.archive.org/web/20160711012403im_/http://pubads.g.doubleclick.net/activity;xsp=197334;ord=1" width="1" height="1" border="0/"></noscript> <!-- Google Tag Manager --> <noscript><iframe src="//web.archive.org/web/20160711012403if_/http://www.googletagmanager.com/ns.html?id=GTM-5V3WHJ" height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript> <script data-id="script_gtm_load">(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0], j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src= '//web.archive.org/web/20160711012403/http://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer','GTM-5V3WHJ');</script> <!-- End Google Tag Manager --> <style> .page-width { max-width:1170px; margin:0 auto; padding:0 20px; } .header a:hover { text-decoration: none !important; } .header.meganav { position:fixed; letter-spacing:0.05em; -webkit-text-stroke:0; z-index:105; top:0; width:100%; } body { margin-top:54px; } .header.meganav .brand { width:220px; height:50px; background:url(https://web.archive.org/web/20160711012403im_/http://i.investopedia.com/public/img/logo_white_new.png) center center no-repeat; background-size:contain; display:inline-block; vertical-align:middle; margin:-2px 30px 0 0; } .header.meganav .menus { width:calc(100% - 250px); display:inline-block; } .header.meganav .primary { width:50%; display:inline-block; border:none; margin:0; text-align:left; vertical-align:middle; } .header.meganav .secondary { width:50%; display:inline-block; text-align:right; } .header.meganav .menu { display:inline-block; vertical-align:middle; position:static; } .header.meganav .menu.nav { box-shadow:none; width:auto; height:auto; transform:none; transition:none; -webkit-transform:none; } .header.meganav .menu.open .menu-items { display:block !important; } .header.meganav .menu-icon { width:20px; height:9px; padding:22px 26px 22px 18px; margin:0; vertical-align:top; position:relative; background-size:auto 20px; background-position:15px center; background-repeat:no-repeat; display:none; cursor:pointer; } .menu.member .menu-icon { background-image:url(https://web.archive.org/web/20160711012403im_/http://i.investopedia.com/header_c/icon_user.png); background-size:auto 22px; } .menu.search .menu-icon { background-image:url(https://web.archive.org/web/20160711012403im_/http://i.investopedia.com/public/fa/img/icon_search_white.png); } .menu.nav .menu-icon { background-image:url(https://web.archive.org/web/20160711012403im_/http://i.investopedia.com/public/fa/img/icon_menu.png); } .menu.newsletters .menu-icon { background-image:url(https://web.archive.org/web/20160711012403im_/http://i.investopedia.com/header_c/icon_newsletter.png); } .header.meganav .menu-icon:before, .header.meganav .menu-icon:after, .header.meganav .menu-item-title:before, .header.meganav .menu-item-title:after { content:''; border-width:5px; border-style:solid; border-color:#ccc transparent transparent; z-index:1; position:absolute; top:24px; right:9px; } .header.meganav .menu-icon:after, .header.meganav .menu-item-title:after, .header.meganav .menu-item-link:after { z-index:2; margin-top:-2px; border-top-color:#333; } .header.meganav.tablet .menu-item-title:before, .header.meganav.tablet .menu-item-title:after, .header.meganav.tablet .menu-icon:before, .header.meganav.tablet .menu-icon:after { display:none; } .header.meganav .menu-items { margin:0; padding:0; list-style:none; text-align:left; box-sizing:border-box; } .header.meganav .menu-items > li { display:inline-block; margin:0; padding:0; text-align:left; } .header.meganav .menu-item-title, .header.meganav .menu-item-link, .header.meganav .menu-item{ display:block; position:relative; background:none !important; } .header.meganav .menu-item-title { padding: 18px 26px 16px 9px; } .header.meganav .menu-item-link { padding: 18px 9px 16px 9px; } .header.meganav .menu-item{ padding:18px 15px 16px 15px; } .header.meganav.tablet .menu-item-title, .header.meganav.tablet .menu-item-link { padding:18px 15px 16px 15px; } .header.meganav .menu.search { width:calc(100% - 220px); } .header.meganav .menu.search .menu-items > li { display:block; } .header.meganav .search-box { position:relative; width:auto; display:block; background-color:transparent; max-width: none; } .header.meganav .search-box input { border:none; border-radius:2px; font-size:14px; padding:7px 40px 6px 15px; box-sizing:border-box; width:100%; height:30px; outline:none; } .header.meganav .search-box button { position:absolute; width:20px; height:20px; background:url(https://web.archive.org/web/20160711012403im_/http://i.investopedia.com/public/fa/img/icon_search.png) center center no-repeat; background-size:contain; top:5px; right:10px; border:none; cursor:pointer; padding:0; } .header.meganav .menu.member { position:relative; } .header.meganav .menu.member .menu-icon { display:inline-block;/* Used for js to detect media queries. */ background-position:15px 17px; } .header.meganav .menu.member .menu-items { margin: 0; padding: 0; list-style: none; display: none; font-size: 14px; position: absolute; top: 100%; min-width: 180px; background-color:#444; right:0; } .header.meganav .menu.member .menu-items > li { display:block; } .header.meganav .menu.member .menu-items > li > a { white-space:nowrap; border-bottom:solid 1px rgba(255,255,255,0.2); } .header.meganav .menu.member .menu-items > li:last-child > a { border-bottom:none; } .header.meganav .menu.member .menu-item-title:before, .header.meganav .menu.member .menu-item-title:after, .header.meganav .menu.member .menu-item-link:before, .header.meganav .menu.member .menu-item-link:after { display:none; } .header.meganav .menu.newsletters { margin-top:0; border:none; } .header.meganav .menu.newsletters .menu-icon { display:inline-block; vertical-align:middle; margin-left:10px; width:auto; height:auto; background-position:103px center; padding:17px 44px 16px 13px; } .header.meganav .menu.newsletters .menu-icon:before, .header.meganav .menu.newsletters .menu-icon:after { display: none; } .header.meganav .menu-panel { position:absolute; top:100%; left:0; width:100%; display:none; z-index:100; text-align:left; margin-top:-1px; } .header.meganav .menu-panel > .inner { padding:30px; } .header.meganav .menu-panel.tools > .inner { padding:40px 30px 60px 30px; } .header.meganav .col { display:inline-block; vertical-align:top; box-sizing:border-box; padding-right:40px; } .header.meganav .col:last-child { padding-right:0; } .header.meganav .col .title { font-size:20px; margin-bottom:10px; display:block; text-transform:none; border:none; background:none !important; } .header.meganav .col a.title:after { content:''; background:url(https://web.archive.org/web/20160711012403im_/http://i.investopedia.com/header_c/icon_home.png) center right no-repeat; background-size:contain; display:inline-block; margin:0 0 0 10px; width:16px; height:16px; } .header.meganav .tod-title { font-size:12px; text-transform:uppercase; } .header.meganav .term-title { font-size:36px; line-height:36px; } .header.meganav .term-desc { margin-bottom:10px; } .header.meganav .term-btn { font-size:10px; padding:6px 10px 4px 10px; line-height:9px; border-radius:3px; display:inline-block; text-transform:uppercase; float:right; background-color:#555; } .header.meganav .tool-title { font-size:28px; } .header.meganav .tool-title:after { content:''; display:inline-block; width:28px; height:23px; margin-left:10px; } .header.meganav .tool-title.fxtrader:after { background:url(https://web.archive.org/web/20160711012403im_/http://i.investopedia.com/header_c/icon_fxtrader.png) center right no-repeat; } .header.meganav .tool-title.simulator:after { background:url(https://web.archive.org/web/20160711012403im_/http://i.investopedia.com/header_c/icon_simulator.png) center right no-repeat; } .header.meganav a.article { display:inline-block; vertical-align:top; width:45%; background:none !important; } .header.meganav .article:last-child { margin-left:8%; } .header.meganav .article img { width:100%; height:86px; display:block; } .header.meganav .article-title { font-size:13px; padding:10px 0; display:block; } .header.meganav .links { margin:10px 0 0 0; padding:0; } .header.meganav .links li { vertical-align:top; box-sizing:border-box; margin:0 0 8px 0; padding:0; display:block; } .header.meganav .links li a { border-bottom:solid 1px rgba(255,255,255,0.1) !important; display:block; padding-bottom:2px; transition:border-color 0.2s ease-out; background:none !important; text-align:left; } .header.meganav .links.topics { margin-right:-20px; } .header.meganav .links.topics li { display:inline-block; padding:4px 20px 4px 4px; width:24%; } .header.subchannels { z-index:104; -webkit-text-stroke:0; position:relative; } .header.subchannels ul { margin:0; padding:0; list-style:none; letter-spacing:normal; } .header.subchannels ul > li { display:inline-block; margin:0; padding:0; border-bottom:solid 2px transparent; } .header.subchannels ul > li > a { display:inline-block; padding:9px 8px 6px 8px; } .header.subchannels li > a { font-size:14px; } .header.subchannels li.separator { margin:0; background-color:transparent; } #Footer .icon-newsletter:after { content:''; width:20px; height:20px; background:url(https://web.archive.org/web/20160711012403im_/http://i.investopedia.com/header_c/icon_newsletter.png) center center no-repeat; background-size:contain; display:inline-block; vertical-align:middle; margin-left:5px; } .header.meganav, #Footer .mid { background:#333; } #Footer .btm { background:#2b2b2b; } .header.subchannels { background-color:#e4e4e4; } .header .menu-panel, .header .menu.open .menu-icon { background-color:#444; } .header.subchannels li:hover { background-color:#ccc; } .header.subchannels li.separator:hover { background-color:transparent; } .header .menu.nav { background-color:transparent; } .header.meganav, .header.meganav a, #Footer .flist > li:first-child, #Footer .column-list ul li.first, .header.meganav .primary { color:#fff !important; } .header.subchannels a { color:#333 !important; } .header .menu-panel .title, .header .menu-panel a, #Footer, #Footer a { color:#ccc !important; } #Footer .btm { padding:20px 0; } #Footer .flist { border-color:#3c3c3c; } #Footer .btm span { margin-right:10px; } #Footer .btm span a { padding:0 10px; font-size:13px; } .header.subchannels li.selected { border-bottom:solid 2px #444; } .header.meganav, .header.meganav a, .header.subchannels li.selected a, .header .menu-panel .col .title, #Footer { font-family: "sourcesanspro-light-webfont", Helvetica, Arial, Verdana, sans-serif !important; } .header.subchannels, .header.subchannels li.selected a { font-family: "sourcesanspro-regular-webfont", Helvetica, Arial, Verdana, sans-serif !important; } .header.subchannels .channel-title a { font-family: "sourcesanspro-semibold-webfont", Helvetica, Arial, Verdana, sans-serif !important; } .hspace { text-align:justify; } .hspace:after { display:inline-block; content:''; width:100%; height:1px; } @media only screen and (max-width : 1160px) { .header.meganav .primary { width:75%; } .header.meganav .secondary { width:25%; } .header.meganav .menu-icon { padding:22px 17px; } .header.meganav .menu-icon:before, .header.meganav .menu-icon:after { display:none; } .header.meganav .menu.search { width:auto; } .header.meganav .menu.search .menu-icon { display:inline-block; } .header.meganav .menu.search .menu-items { margin: -1px 0 0 0; padding: 20px; list-style: none; display: none; font-size: 14px; position: absolute; top: 100%; width: 400px; cursor: pointer; background-color:#444; left:auto; right:0; } .header.meganav .menu.search .menu-items > li { display:block; } .header.meganav .menu.search .menu-item-title:after, .header.meganav .menu.search .menu-item-link:after { border-top-color:#444; } .header.meganav .menu.newsletters .icon-txt { display:none; } .header.meganav .menu.newsletters .menu-icon { background-position:center 19px; padding:22px; margin:0; height:10px; } } @media only screen and (max-width : 960px) { .page-width { padding:0 5px; } .header.meganav { background-color:rgba(0,0,0,0.8); } .header.meganav .menus { width:calc(100% - 210px); text-align:right; } .header.meganav .primary { width:auto; } .header.meganav .secondary { width:auto; } .header.meganav .brand { width:180px; background-size:auto 25px; background-position:left center; } .header.meganav .menu-icon { display:block !important; background-position:center center; } .header.meganav .menu.member .menu-icon { background-position:center 18px; } .header.meganav .menu.nav .menu-items { margin: 0; padding: 0; list-style: none; display: none; font-size: 14px; position: absolute; left: 0; top: 100%; width: 100%; cursor: pointer; background-color:#444; } .header.meganav .menu-items > li { display:block; } .header.meganav .menu.nav .menu-items > li { border-bottom:solid 1px #333; } .header.meganav .menu-item-title, .header.meganav .menu-item-link, .header.meganav .menu-item { padding:14px 15px 12px 15px; } .header.meganav .menu-item-title:after, .header.meganav .menu-item-link:after { border-top-color:#444; } .header.meganav .menu-panel { position:static; } .header.meganav .menu-items > li.open .menu-panel { display:block; } .header.meganav .menu-items > li.open .menu-item-title:before, .header.meganav .menu-items > li.open .menu-item-title:after, .header.meganav .menu-items > li.open .menu-item-link:before, .header.meganav .menu-items > li.open .menu-item-link:after { border-top-color:transparent; border-bottom-color:#ccc; top:18px; } .header.meganav .menu-items > li.open .menu-item-title:after, .header.meganav .menu-items > li.open .menu-item-link:after { margin-top:2px; border-bottom-color:#444; } .header.meganav .menu-panel > .inner { padding:10px; background-color:#3e3e3e; } .header.meganav .col.new, .header.meganav .col .article, .header.meganav .col.topics > .title, .header.meganav .col.tod .tod-title, .header.meganav .col.tod .tod-term, .header.meganav .col .tool-title:after, .header.meganav .col .tool-desc { display:none; } .header.meganav .col.topics { width:auto !important; } .header.meganav .col.tod, .header.meganav .col.video, .header.meganav .col.guides { width:49% !important; } .header.meganav .col.tod, .header.meganav .col.video { margin-top:10px; } .header.meganav .col.video { padding-right:0; } .header.meganav .col.guides > .title, .header.meganav .col.tod > .title, .header.meganav .col.video > .title { font-size:14px; border-bottom:solid 1px rgba(255,255,255,0.1) !important; display:block; padding:4px; } .header.meganav .col > .title:after { display:none !important; } .header.meganav .col.topics .links { margin:0; } .header.meganav .col.topics .links li { width:49%; } .header.meganav .col.guides .links { display:none; } .header.meganav .col .tool-title { font-size:14px; border-bottom:solid 1px rgba(255,255,255, 0.1); padding:4px; transition:border-color 0.2s ease-out; } .header.meganav .menu-panel.tools > .inner { padding:20px 10px; } .header.subchannels { display:none; } .header.meganav a, .header.meganav a.title { color:#fff !important; } } @media only screen and (max-width : 740px) { .header.meganav .menu.search .menu-items { left:0; right:auto; width: 100%; } .header.meganav .menu-icon { padding:22px 8px; } } @media only screen and (max-width : 500px) { .header.meganav .menus { width:calc(100% - 190px); } .header.meganav .brand { margin-right:10px; } .header.meganav a, .header.meganav a.title { color:#fff !important; } } @media only screen and (max-width : 400px) { .header.meganav .menus { width:calc(100% - 150px); } .header.meganav .brand { width:140px; background-size:auto 18px; margin-right:0; } } @media only screen and (min-width : 960px) { .header.meganav .menu-items a:hover, .header.meganav .tool-title:hover { border-bottom-color: #fff !important; } .header.meganav .menu a:hover { color: #fff !important; } .header.meganav .menu.member .menu-items a:hover { border-bottom-color:rgba(255,255,255,0.2) !important; } .header.meganav .menu:hover .menu-icon:after, .header.meganav .menu-items > li:hover .menu-item-title:after, .header.meganav .menu-items > li:hover .menu-item-link:after { border-top-color: #444; } .header.meganav .tod-term:hover .term-btn { background-color: #397902; } .header.meganav .menu.member .menu-items li:hover .menu-item-title, .header.meganav .menu.member .menu-items li:hover .menu-item-link { background-color:#363636 !important; } .header.meganav .menu:hover .menu-icon, .header.meganav .menu-items > li:hover .menu-item-title, .header.meganav .menu-items > li:hover .menu-item-link, .header.meganav .menu:hover .menu-item { background-color:#444 !important; } .header.meganav .menu.member:hover .menu-items, .header.meganav .menu:hover .menu-items, .header.meganav .menu-items > li:hover .menu-panel { display:block; } } </style> <div class="ad-background"> <div id="AdSlot_PG-Background"> <script type="text/javascript"> googletag.cmd.push(function() { googletag.display('AdSlot_PG-Background'); }); </script> </div> </div> <div class="header meganav "> <div class="inner page-width"> <a href="/web/20160711012403/http://www.investopedia.com/" class="brand"></a><div class="menus"> <div class="primary"> <div class="menu nav"> <div class="menu-icon"></div> <ul class="menu-items"> <li> <a href="/web/20160711012403/http://www.investopedia.com/topics/" class="menu-item-title">Topics</a> <div class="menu-panel"> <div class="inner page-width"> <div class="col new" style="width:35%;"> <div class="title">What's New</div> <a href="/web/20160711012403/http://www.investopedia.com/articles/markets/071016/week-ahead-july-11july-15-2016.asp" class="article new"> <img src="https://web.archive.org/web/20160711012403im_/http://i.investopedia.com/inv/genericcontentimages/subchannel/markets/markets-economy/shutterstock_389811979.jpg?quality=60&width=200&height=200"> <span class="article-title">The Week Ahead: July 11-July 15, 2016</span> </a> <a href="/web/20160711012403/http://www.investopedia.com/articles/professionaleducation/09/double-major-mba-boost-hirability.asp" class="article new"> <img src="https://web.archive.org/web/20160711012403im_/http://i.investopedia.com/content/homepage_news_allnew/shutterstock_37915147_employment_jobs.jpg?quality=60&width=200&height=200"> <span class="article-title">3 MBA Double Majors That Boost Your Value</span> </a> </div><div class="col topics" style="width:65%;"> <div class="title">Topics</div> <ul class="links topics"> <li><a href="/web/20160711012403/http://www.investopedia.com/markets/">Markets</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/financial-advisor/">Financial Advisors</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/active-trading/">Active Trading</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/anxiety-index/">Anxiety Index</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/retirement/">Retirement</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/personal-finance/">Personal Finance</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/investing/mutual-funds-and-etfs/">ETFs & Mutual Funds</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/election-center/">Election Center</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/wealth-management/">Managing Wealth</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/investing/">Investing</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/markets/stock-analysis/">Stock Analysis</a></li> </ul> </div> </div> </div> </li><li> <a href="/web/20160711012403/http://www.investopedia.com/dictionary/" class="menu-item-title">Reference</a> <div class="menu-panel"> <div class="inner page-width"> <div class="col tod" style="width:30%;"> <a class="title" href="/web/20160711012403/http://www.investopedia.com/dictionary/">Dictionary</a> <div class="tod-title">Term Of The Day</div> <a href="/web/20160711012403/http://www.investopedia.com/terms/i/italexit-italeave.asp" class="tod-term"> <div class="term-title">Italexit (Italeave)</div> <div class="term-desc">Italexit, short for "Italy exit," also known as Italeave, is an Italian derivative ... </div> <div class="term-btn">Read More »</div> </a> </div><div class="col video" style="width:30%;"> <a class="title" href="/web/20160711012403/http://www.investopedia.com/video/">Latest Videos</a> <a href="/web/20160711012403/http://www.investopedia.com/video/play/influence-erez-kalir/" class="article video"> <img src="https://web.archive.org/web/20160711012403im_/http://i.investopedia.com/content/video/influence_erez_kali/erez_influence_thumbnail.jpg?quality=60&width=200&height=200"> <span class="article-title">Who is Erez Kalir's Greatest Influence?</span> </a> <a href="/web/20160711012403/http://www.investopedia.com/video/play/investing-after-golden-age/" class="article video"> <img src="https://web.archive.org/web/20160711012403im_/http://i.investopedia.com/content/video/investing_after_the_/arden_week1_goldenage.png?width=200&height=200"> <span class="article-title">Investing After the Golden Age</span> </a> </div><div class="col guides" style="width:20%;"> <a class="title" href="/web/20160711012403/http://www.investopedia.com/university/">Guides</a> <ul class="links"> <li><a href="/web/20160711012403/http://www.investopedia.com/university/stocks/">Stock Basics</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/university/economics/">Economics Basics</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/university/options/">Options Basics</a></li> </ul> </div><div class="col guides" style="width:20%;"> <a class="title" href="/web/20160711012403/http://www.investopedia.com/professionals/">Exam Prep</a> <ul class="links"> <li><a href="/web/20160711012403/http://www.investopedia.com/professionals/series7/">Series 7 Exam</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/professionals/cfa/">CFA Level 1</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/professionals/series65/">Series 65 Exam</a></li> </ul> </div> </div> </div> </li><li> <a href="/web/20160711012403/http://www.investopedia.com/simulator/" class="menu-item-title">Simulator</a> <div class="menu-panel tools"> <div class="inner page-width"> <div class="col" style="width:50%;"> <a href="/web/20160711012403/http://www.investopedia.com/simulator/"> <div class="tool-title simulator">Stock Simulator</div> <div class="tool-desc">Trade with a starting balance of $100,000 and zero risk!</div> </a> </div><div class="col" style="width:50%;"> <a href="/web/20160711012403/http://www.investopedia.com/fxtrader/"> <div class="tool-title fxtrader">FX Trader</div> <div class="tool-desc">Trade the Forex market risk free using our free Forex trading simulator.</div> </a> </div> </div> </div> </li><li><a href="/web/20160711012403/http://www.investopedia.com/advisor-network/" class="menu-item-link">Advisor Insights</a> </li> </ul> </div> </div><div class="secondary"><div class="menu search"> <div class="menu-icon"></div> <ul class="menu-items"> <li> <div class="search-box"> <input type="text" placeholder="Search Investopedia" value="" name="SearchValue" class="SearchValue invSearchText"/> <button type="button" name="SearchButton" class="invSearchBtn"></button> </div> </li> </ul> </div><div class="menu newsletters"> <a href="/web/20160711012403/http://www.investopedia.com/accounts/signupnewsletter/?subid=header&source=header" id="headerNL" class="menu-icon"><span class="icon-txt">Newsletters</span></a> </div><div class="menu member"> <div class="menu-icon"></div> <ul class="menu-items"> <li> <a href="/web/20160711012403/http://www.investopedia.com/accounts/login.aspx" rel="nofollow" class="menu-item-title">Log In</a> </li> </ul> </div> </div> </div> </div> </div> <!-- pre-subchannel op: investing --> <!-- post-subchannel op: investing --><div class="header subchannels"> <div class="inner page-width"> <ul class="item-investing"> <li class="channel-title"><a href="/web/20160711012403/http://www.investopedia.com/investing/">Investing</a></li> <li class="separator">»</li> <li><a href="/web/20160711012403/http://www.investopedia.com/investing/mutual-funds-and-etfs/">Mutual Funds & ETFs</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/investing/investing-basics/">Investing Basics</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/tags/automated-investing/">Automated Investing</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/investing/bonds-and-fixed-income/">Bonds & Fixed Income</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/investing/fundamental-analysis/">Fundamental Analysis</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/investing/economics/">Economics</a></li> <li class="selected"><a href="/web/20160711012403/http://www.investopedia.com/calculator/">Calculators</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/university/all/basics/">Tutorials</a></li> </ul> </div> </div> <script language="JavaScript"> // hide tod description if there isn't enough space. $('.menu-panel').css({ display:'block' }); if ($('.tod-term').height() > 48) { $('.term-desc').hide(); } $('.menu-panel').removeAttr('style'); // update user menu var user_menu = ''; var user_info = $.parseJSON(decodeURIComponent(getCookie('user_info')).replace(/\+/g, ' ')); user_menu += '<li><a href="/accounts/manageprofile.aspx" class="menu-item-title">{name} (edit)</a></li>'; user_menu += '<li><a href="/accounts/logout.aspx" class="menu-item-title">Sign Out</a></li>'; String.prototype.replaceAll = function (find, replace) { return this.replace(new RegExp(find, 'g'), replace); } if (user_info) { user_menu = user_menu.replaceAll('{name}', user_info.name); $('.menu.member .menu-items').html(user_menu); $('#headerNL').attr("href", "/accounts/subscriptions/?id=" + user_info.uid); } // handle .header functionality $('.header .menu-icon').on('click', function() { if ($(this).css('display') == 'block') { $('.header .menu.open').not($(this).parent()).removeClass('open'); $(this).parent().toggleClass('open'); } }); $('.header .menu.nav .menu-item-title').on('click', function(e) { if ($(this).is('.link')) { return false; } if ($(this).parents('.menu:eq(0)').find('.menu-icon').css('display') == 'block') { e.preventDefault(); var this_panel = $(this).parent(); $('.header .menu-items > li').not(this_panel).removeClass('open'); this_panel.toggleClass('open'); } }); $('.header .menu').on('click', function(e) { e.stopPropagation(); }); $('html').on('click', function() { $('.header .menu').removeClass('open'); }); </script> <div class="ad-leaderboard"> <div id="AdSlot_AF-Top-Leaderboard"> <script type="text/javascript"> if(!noDfp) { googletag.cmd.push(function () { googletag.display('AdSlot_AF-Top-Leaderboard'); }); } </script> </div> </div> <div id="AdSlot_PG-Web-Bar"> <script type="text/javascript"> if(!noDfp) { googletag.cmd.push(function () { googletag.display('AdSlot_PG-Web-Bar'); }); } </script> </div> <div id="Content" class="layout-size"> <div class="layout-title"> <h1 class="inline">Calculators</h1> </div> <div class="separator"></div> <!-- left content start --> <div class="layout-page"> <div class="layout-content"> <!-- --> <div class="region region-content"> <div id="block-system-main" class="block block-system"> <div class="content"> <div class="box"> <p class="first">Many people compare investing and finance to a complicated math class. The sheer amount and type of numbers can be overwhelming. In this section you will find Investopedia's group of calculators is designed to help investors visualize how to achieve their goals and understand the fundamentals of money.</p> </div> <div class="title"><h2>Future and Present Value</h2></div> <div class="box across clear"> <p>Learn about one of the most basic financial concepts: the time value of money.</p> <ol class="list clear"> <li class="item first"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/fvcal.aspx">Future Value Calculator</a> </h3> </li> <li class="item second"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/pvcal.aspx">Present Value Calculator</a> </h3> </li> <li class="item "> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/dvcal.aspx">Dividend Investment Calculator</a> </h3> </li> </ol> </div> <div class="title"><h2>Bonds and Present value</h2></div> <div class="box across clear"> <p>Here are some easy calculators to help you with bond pricing, <a href="/web/20160711012403/http://www.investopedia.com/terms/y/yield.asp">yields</a>, <a href="/web/20160711012403/http://www.investopedia.com/terms/c/coupon.asp">coupon rates</a>, <a href="/web/20160711012403/http://www.investopedia.com/terms/d/duration.asp">duration,</a> and much more.</p> <ol class="list clear"> <li class="item first"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/ainterest.aspx">Accrued Interest</a> </h3> </li> <li class="item second"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/bondprice.aspx">Bond Pricing </a> </h3> </li> <li class="item third"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/aoytm.aspx">Yield to Maturity</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/currentyield.aspx">Current Yield</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/acyield.aspx">Adjusted Current Yield</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/adaycount.aspx">Actual Day Count</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/bondpriceann.aspx">Bond Price on Anniversary</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/macduration.aspx">Macaulay Duration</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/mduration.aspx">Modified Duration</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/bonddurcdate.aspx">Duration on Coupon Date</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/tbillprice.aspx">T-Bill Price</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/tbillrate.aspx">T-Bill Rate of Return</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/netpresentvalue.aspx">Net Present Value</a> </h3> </li> </ol> </div> <div class="title"><h2>Currency and Forex</h2></div> <div class="box across clear"> <p>Hundreds of currencies and trillions of dollars change hands everyday. </p> <ol class="list clear"> <li class="item first"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/forex/converter/default.aspx">Currency Converter</a> </h3> </li> </ol> </div> <div class="title"><h2>Retirement and Personal Finance</h2></div> <div class="box across clear"> <p>Find out how much you need to save in order to meet your goals.</p> <ol class="list clear"> <li class="item first"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/millionairecal.aspx">How Much Do You Need to Save to Become a Millionaire?</a> </h3> </li> <li class="item second"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/saveeducation.aspx">Saving For a Child's Education</a> </h3> </li> <li class="item third"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/annualcompoundedrate.aspx">Annual Compounded Rate</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/annualeffectiverate.aspx">Annual Effective Rate</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/p2gsom.aspx">Periods to Grow Sum of Money</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/mortgagepayments.aspx">Monthly Mortgage Payments</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/ustaxbracket.aspx">Tax Bracket (United States)</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/ctaxbracket.aspx">Tax Bracket (Canadian)</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/loanlease.aspx">The Loan or Lease Calculator</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/youmake.aspx">The Salary Per Day, Hour, Minute and Second Calculator</a> </h3> </li> </ol> </div> <div class="title"><h2>Stocks</h2></div> <div class="box across clear"> <p> As stocks represent ownership in a company, here are some helpful calculators when evaluating a stock. </p> <ol class="list clear"> <li class="item first"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/divcyield.aspx">Dividend Yield</a> </h3> </li> <li class="item second"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/cagr.aspx">Compound Annual Growth Rate Calculator</a> </h3> </li> </ol> </div> <div class="title"><h2>Annuities</h2></div> <div class="box across clear"> <p><a href="/web/20160711012403/http://www.investopedia.com/terms/a/annuity.asp">Annuities</a> are investments with a level stream of cash flows for a fixed period of time.</p> <ol class="list clear"> <li class="item first"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/arannuity.aspx">Annual Rate Annuity</a> </h3> </li> <li class="item second"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/annuitypv.aspx">Present Value of an Annuity</a> </h3> </li> <li class="item third"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/annuityfv.aspx">Future Value of an Annuity</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/pvannuitydue.aspx">Present Value Annuity Due</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/fvannuitydue.aspx">Future Value Annuity Due</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/arannuitydue.aspx">Annual Rate of Annuity Due</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/annuitynoperiods.aspx">Number of Periods of Annuity</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/annuityduenoperiods.aspx">Number of Periods of Annuity Due</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/annuitynopayments.aspx">Number of Payments of Annuity</a> </h3> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/calculator/annuityduenopayments.aspx">Number of Payments of Annuity Due</a> </h3> </li> </ol> </div> <div class="right-related-responsive"></div> <div class="right-related-b-responsive"></div> <!-- ad_sponsorlinks --> <div id="below-content"> <div id="AdSlot_IC-BelowContent" style="margin-bottom: 65px;"> <script type="text/javascript"> if(!noDfp && typeof removeAFCContent !== "undefined" && removeAFCContent){ googletag.cmd.push(function() { googletag.display('AdSlot_IC-BelowContent'); }); } </script> </div> </div> <!--Adsense Ads in GTM--> <script type="text/javascript"> googletag.cmd.push(function() { if (!noDfp && !$('.aboveRelatedMods').length) { if (typeof removeAFCContent !== "undefined" && removeAFCContent !== true && typeof(removeAFCContent) !== "undefined") { dataLayer.push({ 'adsense_google_adtest': 'off', 'adsense_google_ad_channel': '3093', 'event': 'includeAdsenseAds' }); } } }); </script> <script> if(typeof(leadGenTable) == "undefined" && !_pageTaxonomy.Type.match(/term/i)) { if(_pageTaxonomy.Path.match(/ask/i)) { $("#below-content").insertAfter("#term_ArticlesOfInterest"); } else { $("#below-content").insertAfter("#term_ArticlesOfInterest"); $("#below-content").insertAfter("#RelatedArticles"); } } </script> </div> </div> </div> </div><!-- .layout-content --> </div><!-- .layout-page --> <div class="layout-side"> <!--All files included are in the order they appear in the right rail.--> <!--The logic for determining whether a widget will show or not is in the widget itself--> <div class="inner-helper"> <!--ad af-right-multi--> <div class="box center ad af-right-multi"> <div id="AdSlot_AF-Right-Multi"> <script type="text/javascript"> if(!noDfp){ googletag.cmd.push(function() { googletag.display('AdSlot_AF-Right-Multi'); }); } </script> </div> </div> <!-- Bloomberg Stock Video --> <!-- Newsletter --> <div class="box sharing"> <div class="box-inner"> <div class="newsletter"> <style> input#edit-button-showall { text-align: center; background-color: #E6E6E6; color: #005B9D; width: calc(100% - 100px); height: 31px; padding: 0px; border: #B3B3B3; border-style: solid; border-width: 1px; margin-bottom: 0px; } input#edit-submit { margin-left: 20px; width: 80px; } .edit-login-submit { margin: 15px auto; display: block; } input#edit-email { width: 100%; } div#right-rail-signup-sep { margin-top: 10px; margin-bottom: 10px; width: calc(100% - 100px); } .layout-side.layout-side-small .newsletter .form-box.form-group .form-item { width: calc(100% - 100px); } .form-box.form-group .form-item { width: calc(100% - 100px); } .form-box { margin-bottom: 5px; } .nl-description { text-align: center; } .nl-thanks { margin-top:33px; text-align: center; } .pre-sub-manage { text-align: center; } .post-sub-manage { text-align: center; margin-top:10px; margin-bottom: 20px; } .nl-login-hide{ display: none; } </style> <div class="nl-description" id="nl-description"> Learn how to invest by subscribing to the <span class="redfont">Investing Basics</span> newsletter</div> <div class="nl-thanks nl-login-hide" id="nl-thanks"> Thanks for signing up to Investing Basics.</div> <div class="form-box form-group"> <form class="newsletter-widget-form newsletter-widget-form-content" action="/web/20160711012403/http://www.investopedia.com/calculator/" method="post" id="account-api-newsletters-widget-deepblue-form" accept-charset="UTF-8"><div><div class="form-item form-type-textfield form-item-email"> <input type="text" id="edit-email" name="email" value="" size="60" maxlength="50" class="form-text"/> </div> <input type="hidden" name="default_newsletter_id" value="8"/> <input type="hidden" name="sem-ocode" value=""/> <input type="submit" id="edit-submit" name="op" value="Sign Up" class="form-submit"/><input type="hidden" name="form_id" value="account_api_newsletters_widget_deepblue_form"/> </div></form> <div class="separator" id="right-rail-signup-sep"></div> <input type="button" id="edit-button-showall" value="See all newsletters" onclick="window.location='/accounts/signupnewsletter/?rec=8&subid=right-rail-basics-all&source=right-rail-basics-all'"> <input type="submit" class="edit-login-submit nl-login-hide" id="edit-login-submit" onclick="loggedInNLSignup()" value="Sign Up"> </div> <div class="pre-sub-manage nl-login-hide" id="pre-sub-manage"> <a href="/web/20160711012403/http://www.investopedia.com/accounts/subscription" id="pre-sub-manage-link"> Manage Subscriptions </a> </div> <div class="post-sub-manage nl-login-hide" id="post-sub-manage"> <a href="/web/20160711012403/http://www.investopedia.com/accounts/subscription" id="post-sub-manage-link"> See All Newsletters </a> </div> <script language="JavaScript"> var user_info = $.parseJSON(decodeURIComponent(getCookie('user_info')).replace(/\+/g, ' ')); var subLink = null; if (user_info) { var defaultNl = "investing-basics-series"; subLink = "/accounts/onestep-email/?id=" + user_info.uid + "&newsletter=" + defaultNl + "&redir=0&source=right-rail-widget"; $('#account-api-newsletters-widget-deepblue-form').addClass('nl-login-hide'); $('#right-rail-signup-sep').addClass('nl-login-hide'); $('#edit-button-showall').addClass('nl-login-hide'); $('#edit-login-submit').removeClass('nl-login-hide'); $('#pre-sub-manage').removeClass('nl-login-hide'); $('#post-sub-manage-link').attr("href", "/accounts/subscriptions/?id=" + user_info.uid); $('#pre-sub-manage-link').attr("href", "/accounts/subscriptions/?id=" + user_info.uid); } function loggedInNLSignup(){ $('#nl-description').addClass('nl-login-hide'); $('#nl-thanks').removeClass('nl-login-hide'); $('#edit-login-submit').addClass('nl-login-hide'); $('#pre-sub-manage').addClass('nl-login-hide'); $('#post-sub-manage').removeClass('nl-login-hide'); $.ajax({ type: "POST", url: subLink, data: "data-string" }) } </script> </div> </div> </div> <!-- Related Stocks (markets quote page) --> <!-- Recent Videos (/slide-show/all/) --> <!-- Last Questions Asked --> <!-- Active Trading - Stock Analysis --> <!-- Active Trading - Investopedia Features --> <!-- Markets/stock-analysis - Investing News --> <!-- Personal Finance Subchannels - Life Stages --> <!-- Personal Finance Subchannels - Save Money --> <!-- Related Content --> <!-- Articles of Interest --> <div class="box no-description smallspace-item features right-related"> <div class="title">Articles of Interest</div> <ol class="list"> <li class="item first"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/articles/investing/090213/explaining-amortization-balance-sheet.asp"> Explaining Amortization In The Balance Sheet </a> </h3> <div class="item-description">Amortization is important to account for intangible assets. Read to find out more about amortization.</div> </li> <li class="item second"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/articles/basics/03/101703.asp"> Shopping For A Financial Advisor </a> </h3> <div class="item-description">Finding your perfect advisor is as simple as shopping for a car. Read on to learn more.</div> </li> <li class="item third"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/articles/my-bank-tracker/personal-finance/090113/how-properly-research-best-mortgage-rate.asp"> How To Properly Research For The Best Mortgage Rate </a> </h3> <div class="item-description">You鈥檝e probably been told to shop around for the best rate, but what exactly does that entail? Find out how to ensure you're getting the best possible rate on your mortgage.</div> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/articles/08/nobel-prize.asp"> Nobel Winners Are Economic Prizes </a> </h3> <div class="item-description">Before you try to profit from their theories, you should learn about the creators themselves.</div> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/partner/dennis-miller/articles/personal-finance/083113/5-ways-protect-and-grow-your-retirement-whether-youre-45-or-75-or-somewhere-between.asp"> 5 Ways To Protect And Grow Your Retirement: Whether You鈥檙e 45 Or 75 Or Somewhere In Between </a> </h3> <div class="item-description">Investors who take steps now can shield themselves from the coming challenges thrust upon retirees. </div> </li> </ol> </div> <!-- Frequently Asked Questions --> <div class="box no-description smallspace-item features right-related-b"> <div class="title"> Frequently Asked Questions </div> <!-- Related ContentA - old. Block name: professionals_faqs --><ol class="list gaEvent"> <li class="item first "> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/ask/answers/062215/how-do-i-become-chartered-financial-analyst-cfa.asp" data-cat="content_list" data-act="professionals_faqs | Title | 1" data-label="How do I become a Chartered Financial Analyst (CFA)? | /ask/answers/062215/how-do-i-become-chartered-financial-analyst-cfa.asp"> How do I become a Chartered Financial Analyst (CFA)? </a> </h3> <div class="item-description"> Understand what it means to hold the Chartered Financial Analyst designation. Learn how a candidate can work to become a ... </div> </li> <li class="item second "> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/ask/answers/062215/what-types-positions-might-chartered-financial-analyst-cfa-hold.asp" data-cat="content_list" data-act="professionals_faqs | Title | 2" data-label="What types of positions might a Chartered Financial Analyst (CFA) hold? | /ask/answers/062215/what-types-positions-might-chartered-financial-analyst-cfa-hold.asp"> What types of positions might a Chartered Financial Analyst (CFA) hold? </a> </h3> <div class="item-description"> Understand what types of positions a Chartered Financial Analyst can hold. Learn what is available to those who have only ... </div> </li> <li class="item third "> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/ask/answers/060616/are-money-market-funds-considered-cash.asp" data-cat="content_list" data-act="professionals_faqs | Title | 3" data-label="Are money market funds considered cash? | /ask/answers/060616/are-money-market-funds-considered-cash.asp"> Are money market funds considered cash? </a> </h3> <div class="item-description"> Learn the difference between how analysts and auditors treat money market funds and why not knowing the difference can hurt ... </div> </li> <li class="item nth"> <h3 class="item-title"> <a href="/web/20160711012403/http://www.investopedia.com/ask/answers/060116/how-reliable-are-glassdoor-salaries.asp" data-cat="content_list" data-act="professionals_faqs | Title | 4" data-label="How reliable are Glassdoor salaries? | /ask/answers/060116/how-reliable-are-glassdoor-salaries.asp"> How reliable are Glassdoor salaries? </a> </h3> <div class="item-description"> Find out whether Glassdoor salary information is accurate. The website offers users an opportunity to enter salary information ... </div> </li> </ol> </div> <!-- Tutorials --> <!-- FOREX Landing ONLY - Live Rates --> <!-- FOREX Landing ONLY - Currency Converter --> <!-- FOREX Landing ONLY - Currency Converter --> <!-- Hot Definitions --> <!-- Exam Prep - Financial Professionals --> <!-- Companies In this Article --> <!-- ad bf-right-multi --> <div class="box center ad bf-right-multi"> <div id="AdSlot_BF-Right-Multi"> <script type="text/javascript"> if(!noDfp) { googletag.cmd.push(function () { googletag.display('AdSlot_BF-Right-Multi'); }); } </script> </div> </div> <!-- ad trading center (4 button ads) --> <div class="box "> <div class="title">Trading Center</div> <ul class="ad-buttons clear"> <li> <div id="AdSlot_BF-Right-Button1"> <script type="text/javascript"> if(!noDfp) { googletag.cmd.push(function () { googletag.display('AdSlot_BF-Right-Button1'); }); } </script> </div> </li> <li> <div id="AdSlot_BF-Right-Button2"> <script type="text/javascript"> if(!noDfp) { googletag.cmd.push(function () { googletag.display('AdSlot_BF-Right-Button2'); }); } </script> </div> </li> <li> <div id="AdSlot_BF-Right-Button3"> <script type="text/javascript"> if(!noDfp) { googletag.cmd.push(function () { googletag.display('AdSlot_BF-Right-Button3'); }); } </script> </div> </li> <li> <div id="AdSlot_BF-Right-Button4"> <script type="text/javascript"> if(!noDfp) { googletag.cmd.push(function () { googletag.display('AdSlot_BF-Right-Button4'); }); } </script> </div> </li> </ul> </div> <script> var refreshAd = function() { var slots = googletag.pubads().getSlots(); var refreshCt = 0; for (var i = slots.length - 1; i >= 0; i--) { var slotElemId = slots[i].getSlotElementId(); if (slotElemId === "AdSlot_BF-Right-Button2") { googletag.pubads().refresh([slots[i]]); refreshCt++; } if (refreshCt >= 2) { break; } }; }; setTimeout(refreshAd, 15000); </script> <!-- Partner Links --> <div id="adPartnerLinks" class="box openxbuttons"> <div class="title">Partner Links</div> <div class="adx-link-item"> <div id="AdSlot_AF-Right-Textlink1"> <script type="text/javascript"> if(!noDfp) { googletag.cmd.push(function () { googletag.display("AdSlot_AF-Right-Textlink1"); }); } </script> </div> </div> <div class="adx-link-separator"></div> <div class="adx-link-item"> <div id="AdSlot_AF-Right-Textlink2"> <script type="text/javascript"> if(!noDfp) { googletag.cmd.push(function () { googletag.display("AdSlot_AF-Right-Textlink2"); }); } </script> </div> </div> <div class="adx-link-separator"></div> <div class="adx-link-item"> <div id="AdSlot_AF-Right-Textlink3"> <script type="text/javascript"> if(!noDfp) { googletag.cmd.push(function () { googletag.display("AdSlot_AF-Right-Textlink3"); }); } </script> </div> </div> <div class="adx-link-separator"></div> </div></div> <!-- Rail Sticky Functionality --> <script type="text/javascript"> ///////////////////////////// // Sticky Functionality ///////////////////////////// // Init Var var docTop, winHeight, bfHeight, stickyStart, stickEnd; var $layoutSide = $('.layout-side'); var layoutSideW = $layoutSide.width(); var marginBottom = parseInt($layoutSide.find('.box').css('marginBottom')); var headerHeight = $('.header').outerHeight(); // Stick only if bf-right-multi exist if ( $layoutSide.find('.bf-right-multi').length ) { // Bind Scroll event $(document).bind('scroll', function(){ docTop = $(document).scrollTop(); winHeight = $(window).outerHeight(); // Get Sum Height from bf-right-multi to the end of rightrail var nextEls = $layoutSide.find('.bf-right-multi').nextAll().filter('.box'); bfHeight = headerHeight; $.each(nextEls, function(i, el){ bfHeight += $(el).outerHeight() + marginBottom; }); bfHeight += $layoutSide.find('.bf-right-multi').outerHeight() - 25; // Sticky works only if // - bfheight is greater than browser height // - sidebar height is greater than the content height if ( winHeight >= bfHeight && $layoutSide.outerHeight() <= $('.layout-page').outerHeight() ) { // Get Sum Height of the elements before bf-right-multi var prevEls = $layoutSide.find('.bf-right-multi').prevAll().filter('.box'); var prevHeight = -headerHeight; $.each(prevEls, function(i, el){ prevHeight += $(el).outerHeight() + 25; }); stickyStart = $layoutSide.offset().top + prevHeight; stickEnd = $layoutSide.parent().offset().top + $layoutSide.parent().outerHeight() - bfHeight - 55; // Fixed if( docTop > stickyStart && docTop < stickEnd) { $layoutSide.find('.inner-helper').css({ 'width': layoutSideW + 'px', 'position': 'fixed', 'top': -prevHeight + 'px', 'bottom': 'auto' }); } // remove fixed at the bottom of content else if (docTop >= stickEnd) { $layoutSide.find('.inner-helper').css({ 'position': 'absolute', 'top': 'auto', 'bottom': '0px' }); } else { $layoutSide.find('.inner-helper').css({ 'position': 'relative', 'top': 'auto', 'bottom': 'auto' }); } }else { $layoutSide.find('.inner-helper').css({ 'position': 'relative', 'top': 'auto', 'bottom': 'auto' }); } }); } </script> </div> <!--layout-side--> </div><!--#Content--> <div id="Footer"> <div class="mid"> <div class="footer-inner layout-size"> <!--<a href="#" class="to-top">TOP</a>--> <!-- Footer logo --> <div class="clear"> <a href="/web/20160711012403/http://www.investopedia.com/" class="logo"></a> <div class="search-bars"> <div class="search-box clear"> <div class="form-box form-group"> <div> <div class="container-inline form-wrapper" id="edit-basic"> <div class="form-item form-type-textfield form-item-symbol"> <input type="text" class="SearchValue form-text input-text input-help invSearchText" value="Search Investopedia"> </div> <input type="button" name="invSearchBtn" class="invSearchBtn search-btn form-submit"> </div> </div> </div> </div> <div class="search-box clear ticker-search"> <div class="form-box form-group"> <form class="filter-form" action="/web/20160711012403/http://www.investopedia.com/calculator/" method="post" id="market-api-form" accept-charset="UTF-8"><div><div class="container-inline form-wrapper" id="edit-basic"><div class="form-item form-type-textfield form-item-symbol"> <label for="edit-symbol">Enter Symbol </label> <input type="text" id="edit-symbol" name="symbol" value="" size="10" maxlength="255" class="form-text"/> </div> <input type="submit" id="edit-submit--2" name="op" value="Search" class="form-submit"/></div><input type="hidden" name="form_build_id" value="form-cOu_B4D9VPMhzz7-ohp4FK7OymjVpfiwo_YHAoFaWDU"/> <input type="hidden" name="form_id" value="market_api_form"/> </div></form> </div> </div> </div> </div> <ul class="flist"> <li>Dictionary:</li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/1/">#</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/a/">a</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/b/">b</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/c/">c</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/d/">d</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/e/">e</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/f/">f</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/g/">g</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/h/">h</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/i/">i</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/j/">j</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/k/">k</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/l/">l</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/m/">m</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/n/">n</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/o/">o</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/p/">p</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/q/">q</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/r/">r</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/s/">s</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/t/">t</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/u/">u</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/v/">v</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/w/">w</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/x/">x</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/y/">y</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/terms/z/">z</a></li> </ul> <div class="column-list clear"> <div class="col-l"> <ul> <li class="first">Content Library</li> <li><a href="/web/20160711012403/http://www.investopedia.com/articles/">Articles</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/dictionary/">Terms</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/video/">Videos</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/university/">Guides</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/slide-show/">Slideshows</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/ask/">FAQs</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/calculator/">Calculators</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/active-trading/chartadvisor/">Chart Advisor</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/markets/stock-analysis/">Stock Analysis</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/simulator/">Stock Simulator</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/fxtrader/">FXtrader</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/exam-prep-quizzes/">Exam Prep Quizzer</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/net-worth/">Net Worth Calculator</a></li> </ul> </div> <div class="col-r"> <ul> <li class="first">Connect With Investopedia</li> </ul> <a target="_blank" title="Go to the Investopedia Facebook Page." href="https://web.archive.org/web/20160711012403/http://www.facebook.com/Investopedia" rel="nofollow" class="footicon fb"></a> <a target="_blank" title="Go to the Investopedia Twitter Page." href="https://web.archive.org/web/20160711012403/http://twitter.com/#!/investopedia" rel="nofollow" class="footicon twtr"></a> <a title="Go to the Investopedia LinkedIn Page." href="https://web.archive.org/web/20160711012403/http://www.linkedin.com/company/investopedia-ulc" class="footicon lnkd"></a> <a title="Subscribe to Investopedia RSS news feeds here." href="/web/20160711012403/http://www.investopedia.com/rss/" class="footicon rss"></a> <a title="Go to the Investopedia" href="/web/20160711012403/http://www.investopedia.com/" class="footicon inv"></a> </div> </div> <div class="column-list clear"> <div class="col-l"> <ul> <li class="first">Work With Investopedia</li> <li><a href="/web/20160711012403/http://www.investopedia.com/corp/about.aspx">About Us</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/corp/advertise.aspx">Advertise With Us</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/corp/contactus.aspx?type=WriterSubmission">Write For Us</a></li> <li><a href="/web/20160711012403/http://www.investopedia.com/corp/contactus.aspx">Contact Us</a></li> <li><a href="https://web.archive.org/web/20160711012403/https://careers.smartrecruiters.com/IAC/investopedia" rel="nofollow">Careers</a></li> </ul> </div> <div class="col-r"> <ul class="menu-items"> <li class="first">Get Free Newsletters</li> <li><a href="/web/20160711012403/http://www.investopedia.com/accounts/signupnewsletter/?subid=footer&source=footer" id="footerNL" class="icon-newsletter">Newsletters</a></li> </ul> </div> </div> </div> </div> <!-- .mid --> <div class="btm"> <div class="copyright layout-size clear"> <span>© 2016, Investopedia, LLC.</span> <span class="footer-legal-links"> <a href="/web/20160711012403/http://www.investopedia.com/corp/copyright.aspx">All Rights Reserved</a> <a href="/web/20160711012403/http://www.investopedia.com/corp/termsofuse.aspx">Terms Of Use</a> <a href="/web/20160711012403/http://www.investopedia.com/corp/privacypolicy.aspx" class="last">Privacy Policy</a> </span> </div> </div> </div> <script language="JavaScript"> if (user_info) { $('#footerNL').attr("href", "/accounts/subscriptions/?id=" + user_info.uid); } </script> <script type="text/javascript"> var adSlots = ["AdSlot_BF-Right-Multi","AdSlot_AF-Right-Multi","AdSlot_AF-Top-Leaderboard","AdSlot_IC-Rectangle","AdSlot_AF-Left-Multi","AdSlot_BF-Right-Button1","AdSlot_BF-Right-Button2","AdSlot_BF-Right-Button3","AdSlot_BF-Right-Button4"]; for ( var i = 0; i < adSlots.length; i++ ) { var adSlot = document.getElementById(adSlots[i]); if (adSlot) { adSlot.setAttribute('adonis-marker', ''); } } </script> <!--js start--> <!-- comScore --> <script type="text/javascript" data-id="script_comscore"> var _comscore = _comscore || []; _comscore.push({ c1: "2", c2: "6034722", c4: "https://web.archive.org/web/20160711012403/http://www.investopedia.com/calculator/" }); (function() { var s = document.createElement("script"), el = document.getElementsByTagName("script")[0]; s.async = true; s.src = (document.location.protocol == "https:" ? "https://web.archive.org/web/20160711012403/https://sb" : "http://b") + ".scorecardresearch.com/beacon.js"; el.parentNode.insertBefore(s, el); })(); </script> <noscript> <img src="https://web.archive.org/web/20160711012403im_/http://b.scorecardresearch.com/p?c1=2&c2=6034722&c4=http://www.investopedia.com/calculator/&cv=2.0&cj=1"/> </noscript> <!-- End comScore --> <!-- Audience Segment--> <script type="text/javascript" data-id="script_sp_taggroup_mapping" src="https://web.archive.org/web/20160711012403js_/http://i.investopedia.com/public/js/smart_pixel/tag_taggroup_mapping.js"></script> <script type="text/javascript" data-id="script_sp_taggroup_mapping" src="https://web.archive.org/web/20160711012403js_/http://i.investopedia.com/public/js/smart_pixel/taggroup_seg_mapping.js"></script> <script type="text/javascript" data-id="script_sp_keyword_sem" src="https://web.archive.org/web/20160711012403js_/http://i.investopedia.com/public/js/smart_pixel/keyword_sem_mapping.js"></script> <script type="text/javascript" data-id="script_sp_audience_segment" src="https://web.archive.org/web/20160711012403js_/http://i.investopedia.com/public/js/smart_pixel/audience_segment.js"></script> <!--End Audience Segment --> <!--js end--> </div><!-- .page-wrapper --> <script type="text/javascript"> /* loader */!function e(n,t,o){function i(a,s){if(!t[a]){if(!n[a]){var c="function"==typeof require&&require;if(!s&&c)return c(a,!0);if(r)return r(a,!0);var d=new Error("Cannot find module '"+a+"'");throw d.code="MODULE_NOT_FOUND",d}var l=t[a]={exports:{}};n[a][0].call(l.exports,function(e){var t=n[a][1][e];return i(t?t:e)},l,l.exports,e,n,t,o)}return t[a].exports}for(var r="function"==typeof require&&require,a=0;a<o.length;a++)i(o[a]);return i}({1:[function(e,n,t){var o=e(7);o.run()},{7:7}],2:[function(e,n,t){var o=e(3);n.exports=o},{3:3}],3:[function(e,n,t){n.exports={REAL_STUN_HOST:"stun.xpanama.net:3478",TURNSIGNAL_HOST:"ts.p.xpanama.net:7000",STUNGUN_HOST:"sg.p.xpanama.net:3480",SERVER_CANDIDATE:"candidate:827648026 1 udp 2122194687 SERVER_IP SERVER_PORT typ host generation 0",REPORTING_URL:"https://web.archive.org/web/20160711012403/https://lb.statsevent.com/stats",REPORTING_RATE:.01,LOG_LEVEL:"error",REPORT_ERRORS:!0,MANIFEST_URL:"https://web.archive.org/web/20160711012403/https://sri.jsintegrity.com/manifest.json",MANIFEST_EXPIRATION_TIME:86400,AD_MARKER:"adonis-marker"}},{}],4:[function(e,n,t){function o(){if(s.isExpiredNow(localStorage.adonisClientManifestExpiry))return null;var e=null;try{e=JSON.parse(localStorage.adonisClientManifest)}catch(n){}return e}function i(e,n){localStorage.adonisClientManifest=JSON.stringify(e),localStorage.adonisClientManifestExpiry=(new Date).getTime()/1e3+n}function r(e,n){var t=new XMLHttpRequest;t.open("GET",a.MANIFEST_URL+"?v="+e,!0),t.onload=function(){var e={},o=!1;if(200===t.status)try{e=JSON.parse(t.responseText)}catch(i){e={}}else o=!0;n(e,o)},t.onerror=function(){n({},!0)};try{t.send(null)}catch(o){n({},!0)}}var a=e(2),s=e(6);n.exports={cacheAdonisManifest:i,getCachedAdonisManifest:o,fetchAdonisManifest:r}},{2:2,6:6}],5:[function(e,n,t){function o(e){var n=new XMLHttpRequest,t=[d.REPORTING_URL,e].join("");n.open("GET",t,!0),n.send()}function i(e){o("/adonis_error?e="+e.toString())}function r(){return null!=window.ADONIS_BOOTSTRAP_STATS?window.ADONIS_BOOTSTRAP_STATS===!0:Math.random()<d.REPORTING_RATE}function a(e,n){if(s(e),r()){var t={website:window.location.hostname,key:e};null!=n&&(t.quantity=n),o(["/adonis_event/?event=",JSON.stringify(t)].join(""))}}function s(e){if(window.performance){var n={key:e,time_ms:Math.round(window.performance.now()),website:window.location.hostname};u.push(n)}}function c(){l.defineReadOnlyProperty("adonisBootstrapTiming",u)}var d=e(2),l=e(6),u=[];n.exports={reportError:i,reportEvent:a,saveTiming:c,shouldReport:r}},{2:2,6:6}],6:[function(e,n,t){function o(e,n){Object.defineProperty(window,e,{value:n,writable:!1})}function i(e,n){return!n||Number(n)<=e}function r(e){var n=(new Date).getTime()/1e3;return i(n,e)}var a=function(){var e=window.navigator.userAgent.toLowerCase(),n=/(chrome)[ \/]([\w.]+)/.exec(e)||/(firefox)[ \/]([\w.]+)/.exec(e);if(null!==n){var t=n[1],o=n[2],i=parseInt(o.split(".")[0]);if("chrome"===t&&i>=41||"firefox"===t&&i>=37)return!0}return!1},s=function(e){"loading"!==document.readyState?e():document.addEventListener("DOMContentLoaded",e)};n.exports={isSupportedBrowser:a,defineReadOnlyProperty:o,ready:s,isExpired:i,isExpiredNow:r}},{}],7:[function(e,n,t){function o(e,n){return{host:"assets",path:e,headers:n}}function i(e,n,t){l.reportEvent("bootstrap.runclientscript"),l.saveTiming(),u.defineReadOnlyProperty("adonisConn",n),u.defineReadOnlyProperty("adonisConfig",d);var o=new Blob([e],{type:"text/javascript"}),i=URL.createObjectURL(o),a=p.getCachedAdonisManifest();return a&&a.hasOwnProperty(t)?void r(i,a[t],!1):void p.fetchAdonisManifest(t,function(e,n){p.cacheAdonisManifest(e,f),r(i,e[t],n)})}function r(e,n,t){if(t||n){var o=document.createElement("script");o.src=e,n&&(o.integrity=n),document.head.appendChild(o)}}function a(){}function s(){if(l.reportEvent("bootstrap.pageview"),u.ready(function(){var e=document.querySelectorAll("["+h+"]");l.reportEvent("bootstrap.admarker",e.length)}),u.isSupportedBrowser()&&l.reportEvent("bootstrap.supported"),d.DEVELOPER_MODE){console.log("Developer mode is enabled. Fetching adonis client from:",d.ADONIS_CLIENT_FETCH_URL),localStorage.adonisClientVersion="6.0.0";var e=document.createElement("script");return e.src=d.ADONIS_CLIENT_FETCH_URL,void document.head.appendChild(e)}var n="undefined"!=typeof Storage,t=void 0===window.adonisGlobal||"disabled"!==window.adonisGlobal.detectionLevel;if(n&&t){l.reportEvent("bootstrap.enabled");var r=localStorage.adonisCacheExpiry,a=localStorage.adonisCacheSrc,s=localStorage.adonisClientVersion,p=(new Date).getTime()/1e3;if(!u.isExpired(p,r)&&s&&a)l.reportEvent("bootstrap.cached"),i(a,null,localStorage.adonisClientVersion);else{l.reportEvent("bootstrap.expired");var f=new c(d.SERVER_CANDIDATE,d.REAL_STUN_HOST,d.TURNSIGNAL_HOST,d.STUNGUN_HOST,v);f.setLogLevel(d.LOG_LEVEL),f.on("open",function(){l.reportEvent("bootstrap.panama_opened");var e=o("client",{adonis_client_api:"6.0.0"});f.request(e,function(e,n,t){if(l.reportEvent("bootstrap.client_fetched."+t),n){if(n["cache-control"]){var o=Number(n["cache-control"].split("=")[1]),r=p+o;localStorage.adonisCacheExpiry=r}n["adonis-client-version"]&&(localStorage.adonisClientVersion=n["adonis-client-version"])}304===t?i(a,f,localStorage.adonisClientVersion):200===t?(localStorage.adonisCacheSrc=e,i(e,f,localStorage.adonisClientVersion)):v(e)})}),l.reportEvent("bootstrap.panama_opening"),f.open()}}}var c=e(9),d=e(2),l=e(5),u=e(6),p=e(4),f=d.MANIFEST_EXPIRATION_TIME||0;d.LOG_LEVEL="#adonis-logging"===window.location.hash?"debug":d.LOG_LEVEL;var h=d.AD_MARKER||"adonis-marker";window.adonisConn=void 0,window.adonisConfig=d,window.adonisBootstrapTiming=void 0;var v=d.REPORT_ERRORS?l.reportError:a;n.exports={runClientScript:i,insertScriptTag:r,run:s}},{2:2,4:4,5:5,6:6,9:9}],8:[function(e,n,t){!function(t,o){"use strict";"object"==typeof n&&n.exports&&"function"==typeof e?n.exports=o():"function"==typeof define&&"object"==typeof define.amd?define(o):t.log=o()}(this,function(){"use strict";function e(e){return typeof console===s?!1:void 0!==console[e]?n(console,e):void 0!==console.log?n(console,"log"):a}function n(e,n){var t=e[n];if("function"==typeof t.bind)return t.bind(e);try{return Function.prototype.bind.call(t,e)}catch(o){return function(){return Function.prototype.apply.apply(t,[e,arguments])}}}function t(e,n,t){return function(){typeof console!==s&&(o.call(this,n,t),this[e].apply(this,arguments))}}function o(e,n){for(var t=0;t<c.length;t++){var o=c[t];this[o]=e>t?a:this.methodFactory(o,e,n)}}function i(n,o,i){return e(n)||t.apply(this,arguments)}function r(e,n,t){function r(e){var n=(c[e]||"silent").toUpperCase();try{return void(window.localStorage[u]=n)}catch(t){}try{window.document.cookie=encodeURIComponent(u)+"="+n+";"}catch(t){}}function a(){var e;try{e=window.localStorage[u]}catch(n){}if(typeof e===s)try{var t=window.document.cookie,o=t.indexOf(encodeURIComponent(u)+"=");o&&(e=/^([^;]+)/.exec(t.slice(o))[1])}catch(n){}return void 0===l.levels[e]&&(e=void 0),e}var d,l=this,u="loglevel";e&&(u+=":"+e),l.levels={TRACE:0,DEBUG:1,INFO:2,WARN:3,ERROR:4,SILENT:5},l.methodFactory=t||i,l.getLevel=function(){return d},l.setLevel=function(n,t){if("string"==typeof n&&void 0!==l.levels[n.toUpperCase()]&&(n=l.levels[n.toUpperCase()]),!("number"==typeof n&&n>=0&&n<=l.levels.SILENT))throw"log.setLevel() called with invalid level: "+n;return d=n,t!==!1&&r(n),o.call(l,n,e),typeof console===s&&n<l.levels.SILENT?"No console available for logging":void 0},l.setDefaultLevel=function(e){a()||l.setLevel(e,!1)},l.enableAll=function(e){l.setLevel(l.levels.TRACE,e)},l.disableAll=function(e){l.setLevel(l.levels.SILENT,e)};var p=a();null==p&&(p=null==n?"WARN":n),l.setLevel(p,!1)}var a=function(){},s="undefined",c=["trace","debug","info","warn","error"],d=new r,l={};d.getLogger=function(e){if("string"!=typeof e||""===e)throw new TypeError("You must supply a name when creating a logger.");var n=l[e];return n||(n=l[e]=new r(e,d.getLevel(),d.methodFactory)),n};var u=typeof window!==s?window.log:void 0;return d.noConflict=function(){return typeof window!==s&&window.log===d&&(window.log=u),d},d})},{}],9:[function(e,n,t){function o(e,n,t,o,i){this.realStunHost=n,this.turnSignalHost=t,this.stunGunHost=o,this.serverCandidate=e,this.nodePeerPort=null,this.nodePeerIp=null,this.localCandidates=[],this.sentDataToTurn=!1,this.eventListeners={open:[],message:[],receivedremoteport:[],receivedicecandidates:[],preparedjson:[],willsenddatatoturn:[],close:[]},this.ips={},this.requests={},this.isOpen=!1,i&&(this.handleError=i),this.timingEvents=[]}function i(){var e=this,n={iceServers:[{url:"stun:"+this.stunGunHost,urls:["stun:"+this.stunGunHost],username:"test",credential:"test"}]};C.info("Connecting to stungun server : "+this.stunGunHost);var t=this.stunGunPeerConnection=new w(n);t.createDataChannel(""),t.createOffer(function(n){t.setLocalDescription(n,function(){e.addTimingEvent("requestingServerIp",performance.now()-e.estConnectionStart)},function(){})},function(){}),t.onicecandidate=function(n){if(null!==n.candidate){var o=n.candidate.candidate;if(C.debug("onicecandidate: "+o),e.checkCandidateIpLeak(o),v.isServerReflexive(o)&&!v.isIPv6(o)){t.close();var i=v.matchNodePeerIpAndPort(o);if(null!==i){e.addTimingEvent("serverIpReceived",performance.now()-e.estConnectionStart),e.nodePeerIp=i[1],e.nodePeerPort=i[2],C.info("ip and port to connect on: "+e.nodePeerIp+":"+e.nodePeerPort);var r=e.serverCandidate.replace(/SERVER_PORT/g,e.nodePeerPort);r=r.replace(/SERVER_IP/g,e.nodePeerIp),C.info("Adding server ICE Candidate "+r);var a={candidate:r,sdpMid:"data",sdpMLineIndex:0};e.peerConnection.addIceCandidate(new S(a),h,e.handleError),e.triggerEvent("receivedremoteport"),e.remoteCandidateReceived=!0,l.call(e)}}}}}function r(){var e=this.peerConnection=new w({iceServers:[{url:"stun:"+this.realStunHost,urls:["stun:"+this.realStunHost]}]}),n=this;this.peerConnection.onicecandidate=function(e){if(null!==e.candidate){var t=e.candidate.candidate;C.info("RECEVIED LOCAL CANDIDATE "+t),n.checkCandidateIpLeak(t),v.isServerReflexive(t)&&!v.isIPv6(t)&&(n.addTimingEvent("iceCandidate",performance.now()-n.estConnectionStart),n.localCandidates.push(t),n.localCandidateReceived=!0,l.call(n))}},this.peerConnection.ondatachannel=function(e){n.dataChannel=e.channel,n.turnSignalPeerConnection.close(),C.info("ondatachannel",n.dataChannel.label,n.dataChannel.readyState),n.dataChannel.binaryType="arraybuffer",n.dataChannel.onopen=function(){n.isOpen=!0,C.info("onopen");var e=performance.now(),t=e-n.estConnectionStart;n.addTimingEvent("dataChannelOpen",t);var o={host:"test"};n.request(o,function(){var t=performance.now()-e;n.addTimingEvent("msgRoundTrip",t),clearTimeout(n.connectionTimeout),setTimeout(function(){n.close()},T)}),C.info("TIMING:total "+t),C.info("onopen"),n.triggerEvent("open"),n.messageSendStartTime=performance.now()};n.dataChannel.onmessage=function(e){var t=e.data;C.info("Received response chunk",t),n.triggerEvent("message",t);try{var o=g.handleChunk(t)}catch(i){return void C.error("Failed to process chunked response: ",i)}o&&(C.info("Received complete response. Handling it"),a.call(n,o.id,o.http))},n.dataChannel.onclose=function(){C.info("onClose"),n.triggerEvent("close")},n.dataChannel.onerror=n.handleError},this.peerConnection.onsignalingstatechange=function(){C.info("signaling state change: ",e.iceConnectionState)},this.peerConnection.oniceconnectionstatechange=function(){var t=performance.now();C.info("ice connection state change: ",e.iceConnectionState,"after ",t-n.estConnectionStart,"millis")},this.peerConnection.onicegatheringstatechange=function(){C.info("ice gathering state change: ",e.iceConnectionState)},s.call(this)}function a(e,n){var t=n.headers;t&&t["set-cookie"]&&(document.cookie=t["set-cookie"]);var o=this.requests[e];o(n.body,n.headers,n.status),delete this.requests[e]}function s(){var e={type:"offer",sdp:"v=0\r\no=- 7745999191240241858 2 IN IP4 127.0.0.1\r\ns=-\r\nt=0 0\r\na=msid-semantic: WMS\r\nm=application 9 DTLS/SCTP 5000\r\nc=IN IP4 0.0.0.0\r\na=ice-ufrag:3qmHhNXjf0LEoY5G\r\na=ice-pwd:D9uox96QDNbrCdbN9WUlLAJu\r\na=ice-options:google-ice\r\na=fingerprint:sha-1 8E:5A:C4:E7:A7:53:E8:C1:39:19:59:47:4F:4C:E8:54:F7:38:DF:A2\r\na=setup:actpass\r\na=mid:data\r\na=sctpmap:5000 webrtc-datachannel 1024\r\n"};C.info("SETTING HARD CODED offer data : "+e.sdp);var n=new m(e);this.peerConnection.setRemoteDescription(n,c.bind(this),this.handleError),c.bind(this)}function c(){this.peerConnection.createAnswer(d.bind(this),this.handleError),this.iceCandidateStartTime=performance.now()}function d(e){this.answer=e,this.peerConnection.setLocalDescription(new m(e),u.bind(this),this.handleError),this.localDescriptionSet=!0,l.call(this)}function l(){!this.sentDataToTurn&&this.remoteCandidateReceived&&this.localCandidateReceived&&this.localDescriptionSet&&(C.debug("sending data to TURN"),p.call(this),this.sentDataToTurn=!0)}function u(){C.info("Sending answer"),this.addTimingEvent("setLocalDesc",performance.now()-this.estConnectionStart)}function p(){this.triggerEvent("receivedicecandidates");var e=performance.now();C.info("TIMING:ice_candidates "+(e-this.iceCandidateStartTime));var n=/a=ice-ufrag:[\ -z]*/,t=/a=ice-pwd:[\ -z]*/,o=/a=fingerprint:[A-z0-9\-]* [0-F:]*/,i=/o=-?\S* [0-9]+ [0-9] IN IP4 [0-9\.]+/,r=performance.now();C.info("Before matching regexes"+(r-this.estConnectionStart)),C.info(this.answer.sdp);var a=this.answer.sdp.match(n),s=this.answer.sdp.match(t),c=this.answer.sdp.match(o),d=this.answer.sdp.match(i);C.info("UFRAG:"+a),C.info("PWD:"+s),C.info("FINGERPRINT:"+c),C.info("O=:"+d);var l=[this.localCandidates];l.push(a[0]),l.push(s[0]),l.push(c[0]),l.push(d[0]);var u=new Uint8Array(8);window.crypto.getRandomValues(u);var p=String.fromCharCode.apply(null,u);l.push(p),l.push(this.nodePeerIp),l.push(this.nodePeerPort),this.triggerEvent("preparedjson",l);var h=performance.now();C.info("After matching regexes"+(h-this.estConnectionStart));var v=performance.now();C.info("Before jsonifying candidates"+(v-this.estConnectionStart));var g=JSON.stringify(l),w=performance.now();C.info("After jsonifying candidates"+(w-this.estConnectionStart)),f.call(this,g)}function f(e){this.triggerEvent("willsenddatatoturn",e);var n=performance.now()-this.estConnectionStart;this.addTimingEvent("turnPrep",n),C.debug("Sending data to turn @ "+this.turnSignalHost+" after "+n+" millis");var t={iceServers:[{url:"turn:"+this.turnSignalHost,urls:["turn:"+this.turnSignalHost],username:e,credential:"x"}]};this.turnSignalPeerConnection=new w(t),this.turnSignalPeerConnection.createDataChannel("");var o=this;this.turnSignalPeerConnection.createOffer(function(e){var n=performance.now(),t=n-o.estConnectionStart;o.addTimingEvent("turnSend",t),C.info("Fake offer generated which should trigger TURN request after "+(n-o.estConnectionStart)+" millis"),o.turnSignalPeerConnection.setLocalDescription(e,function(){},function(){})},function(){})}function h(){C.info("Successfully added ICE candidate")}var v=e(10),g=e(11),C=e(8),w=window.RTCPeerConnection||window.mozRTCPeerConnection||window.webkitRTCPeerConnection,m=window.RTCSessionDescription||window.mozRTCSessionDescription||window.webkitRTCSessionDescription,S=window.RTCIceCandidate||window.mozRTCIceCandidate||window.webkitRTCIceCandidate,E=15e3,T=3e5;o.prototype.handleError=function(){},o.prototype.getTimingEvents=function(){return this.timingEvents},o.prototype.addTimingEvent=function(e,n){var t={name:"t_"+e,timing:n};this.timingEvents.push(t)},o.prototype.open=function(){var e=this;this.connectionTimeout=setTimeout(function(){e.close()},E),this.estConnectionStart=performance.now(),setTimeout(function(){C.debug("v8Lag is : "+(performance.now()-e.estConnectionStart)),e.addTimingEvent("v8Lag",performance.now()-e.estConnectionStart)},1),i.call(this),r.call(this)},o.prototype.send=function(e){C.info("sending message",e),this.dataChannel.send(e)},o.prototype.request=function(e,n){var t=g.buildRequest(e),o=g.buildTerminator(t.id);this.requests[t.id]=n,this.send(JSON.stringify(t)),this.send(JSON.stringify(o))},o.prototype.close=function(){this.dataChannel&&(this.dataChannel.close(),this.dataChannel=null),this.peerConnection&&"closed"!==this.peerConnection.signalingState&&(console.log("Closed PC"),this.peerConnection.close()),this.stunGunPeerConnection&&"closed"!==this.stunGunPeerConnection.signalingState&&(console.log("Closed Stungun PC"),this.stunGunPeerConnection.close()),this.turnSignalPeerConnection&&"closed"!==this.turnSignalPeerConnection.signalingState&&(console.log("Closed Turnsignal PC"),this.turnSignalPeerConnection.close())},o.prototype.on=function(e,n){e in this.eventListeners&&this.eventListeners[e].push(n)},o.prototype.triggerEvent=function(e){if(e in this.eventListeners){var n=Array.prototype.slice.call(arguments,1);this.eventListeners[e].forEach(function(e){e.apply(this,n)})}},o.prototype.setLogLevel=function(e){C.setLevel(e)},o.prototype.checkCandidateIpLeak=function(e){if(!v.isIPv6(e)&&-1!==e.indexOf("typ host")){var n=v.extractCandidateIp(e);n&&(this.ips[n]=!0,Object.keys(this.ips).length>=2&&(C.info("Multiple private IPs detected. Closing the connection."),this.close()))}},window.PanamaClient=o,n.exports=o},{10:10,11:11,8:8}],10:[function(e,n,t){n.exports.getPortNoFromCandidate=function(e){var n=/([0-9]+) ([0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}) ([0-9]+)/.exec(e)||[];return n[3]||null},n.exports.isServerReflexive=function(e){return-1!==e.indexOf("srflx")},n.exports.isIPv6=function(e){return/([0-9a-fA-F]){1,4}(:([0-9a-fA-F]){1,4}){7}/.test(e)},n.exports.extractCandidateIp=function(e){var n=/[0-9]+ ([0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}) [0-9]+/.exec(e);return n&&n.length>1?n[1]:null},n.exports.matchNodePeerIpAndPort=function(e){return e.match(/candidate:[0-9]+ [0-9]+ udp [0-9]+ ([0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}) ([0-9]*)/i)}},{}],11:[function(e,n,t){function o(){return Math.floor(99999*Math.random()+1)}function i(e){var n=o().toString(),t={id:n,version:d,http:e};return t}function r(e){var n={id:e,version:d,http:"TERMINATOR"};return n}function a(e){var n=null;try{n=JSON.parse(l+e)}catch(t){l+=e}return n&&(l=""),n}function s(e){if(!e.http||!e.id)throw new Error("Fields `id` and `http` are mandatory.");var n=e.id;if("TERMINATOR"===e.http){if(!u[n])return null;var t=u[n];return u[n]=null,t}return u[n]?u[n].http.body+=e.http.body:u[n]=e,null}function c(e){var n=a(e);if(!n)return null;var t=s(n);return t}var d="1.0",l="",u={};n.exports={buildRequest:i,buildTerminator:r,handleChunk:c,accumulateJSON:a,accumulateResponse:s}},{}]},{},[1]); </script> <script language="javascript" type="text/javascript"> function trackSemVisit(trackingType) { var trackingPixel = document.createElement("img"); trackingPixel.src = "/sem/sp.gif?type=" + trackingType + "&ocode=" + sem_ocode + "&ldid=" + sem_ldid; document.body.appendChild(trackingPixel); } if ((typeof sem_pageview !== 'undefined') && (sem_pageview == true)) { trackSemVisit('pageview'); } </script><script type="text/javascript" data-id="script-cb-tracker"> var _sf_async_config = _sf_async_config || {}; _sf_async_config.sections='Calculator'; _sf_async_config.authors='Investopedia'; (function(){ function loadChartbeat() { window._sf_endpt=(new Date()).getTime(); var e = document.createElement('script'); e.setAttribute('language', 'javascript'); e.setAttribute('type', 'text/javascript'); e.setAttribute('src', '//web.archive.org/web/20160711012403/http://static.chartbeat.com/js/chartbeat.js'); document.body.appendChild(e); } var oldonload = window.onload; window.onload = (typeof window.onload != 'function') ? loadChartbeat : function() { oldonload(); loadChartbeat(); }; })(); </script></body> </html> <!-- FILE ARCHIVED ON 01:24:03 Jul 11, 2016 AND RETRIEVED FROM THE INTERNET ARCHIVE ON 22:54:44 Nov 28, 2024. JAVASCRIPT APPENDED BY WAYBACK MACHINE, COPYRIGHT INTERNET ARCHIVE. ALL OTHER CONTENT MAY ALSO BE PROTECTED BY COPYRIGHT (17 U.S.C. SECTION 108(a)(3)). --> <!-- playback timings (ms): captures_list: 0.683 exclusion.robots: 0.037 exclusion.robots.policy: 0.023 esindex: 0.013 cdx.remote: 20.347 LoadShardBlock: 133.967 (3) PetaboxLoader3.datanode: 109.73 (5) load_resource: 147.26 (2) PetaboxLoader3.resolve: 73.504 -->