Loan Payment Calculator Excel Template

Loan Payment Calculator (Excel Template)

Estimate your loan payments based on principal, interest rate, and loan term.

function calculateLoanPayment() { var loanAmount = parseFloat(document.getElementById(“loanAmount”).value); var interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100 / 12; var loanTerm = parseInt(document.getElementById(“loanTerm”).value) * 12; if (isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || loanAmount <= 0 || interestRate <= 0 || loanTerm <= 0) { alert("Please enter valid positive numbers for all fields."); return; } var monthlyPayment = (loanAmount * interestRate * Math.pow(1 + interestRate, loanTerm)) / (Math.pow(1 + interestRate, loanTerm) – 1); document.getElementById("monthlyPayment").value = monthlyPayment.toFixed(2); } function resetCalculator() { document.getElementById("loanPaymentCalculatorForm").reset(); document.getElementById("monthlyPayment").value = ""; document.getElementById("calculationSteps").style.display = "none"; } function showCalculationSteps() { var stepsDiv = document.getElementById("calculationSteps"); if (stepsDiv.style.display === "none" || stepsDiv.style.display === "") { stepsDiv.style.display = "block"; } else { stepsDiv.style.display = "none"; } }

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