Well in principle, if I get your question right, you could use any programming language for your application. You would create a script where you define some variables with values at the beginning, and then perform the calculations you want to so.
Might be a bit of overkill, but you can have look at Python(x,y). It's a collection of Python modules that can be installed easily, and comes with a nice user interface for the Python programming language, which might helps you getting started more easily. Plus, the Python programming language is very useful in many areas, so I think it's never a failure to have a look at it, anyways :-)
Good luck!
edit: I don't know if there is a portable version by the way, but at least Python can be run on many many platforms!
R
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, and need the software to solve the equation with respect toI
? Which operative system do you want this to run on? Could you give an example of an equation with some more variables, and how you want it handled?