A new computational methodology allowing one to work in a new way with infinities and infinitesimals is presented in this paper. The new approach, among other things, gives the possibility to calculate the number of elements of certain infinite sets, avoids indeterminate forms and various kinds of divergences. This methodology has been used by the author as a starting point in developing a new kind of computer – the Infinity Computer – able to execute computations and to store in its (...) memory not only finite numbers but also infinite and infinitesimal ones. (shrink)