Add support for basis points
under review
Kent Akgungor
Please consider adding support for basis points (using the abbreviation "bps") in Soulver and Soulver Mini. This is a commonly used terminology in the finance industry to represent small percentages.
Example: instead of typing 0.055% or 0.00055, Soulver would ideally recognize 5.5 bps as the equivalent number.
For reference, a basis point is 1/100th of 1% or 0.0001 in decimal format.
Additional details: https://www.investopedia.com/terms/b/basispoint.asp
Zac @ Soulver
under review
Thanks for the suggestion. Could you give us an example of a full math expression where you'd prefer to use bps instead of regular %?
Kent Akgungor
Zac @ Soulver: Sure thing - here are two representative examples.
1) I want to determine the fees (in dollars) that would be charged on an amount of money invested in a fund that charges an annual management fee of 12.5 bps (i.e. 0.125%):
Amount invested = $100,000
Management Fee = 12.5 bps
Annual fee = Amount invested × Management Fee = $125.00
2) I want to calculate the annualized fee (expressed in bps) for an investment using information I take from a client's monthly statement:
Amount invested = $100,000
Fee charged = $56.25 per month
Annual fee = (Fee charged per year / Amount invested) as bps = 67.5 bps
Let me know if I can provide anything else.
Zac @ Soulver
Kent Akgungor: You can achieve the result in 1) by declaring bps as a local variable (or a global variable).
Kent Akgungor
Zac @ Soulver: Great, thank you for pointing that out! I guess it is just the second example that would need to be implemented as a new feature, where Soulver could return an answer in basis points.