ABSA Online Loan Calculator
function calculateLoan() {
const loanAmount = parseFloat(document.getElementById(“loanAmount”).value);
const interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100 / 12;
const loanTerm = parseFloat(document.getElementById(“loanTerm”).value) * 12;
if (!loanAmount || !interestRate || !loanTerm || loanAmount <= 0 || interestRate <= 0 || loanTerm <= 0) {
alert("Please fill in all fields with valid values.");
return;
}
const monthlyPayment = (loanAmount * interestRate) / (1 – Math.pow(1 + interestRate, -loanTerm));
const totalRepayment = monthlyPayment * loanTerm;
document.getElementById("monthlyPayment").value = monthlyPayment.toFixed(2);
document.getElementById("totalRepayment").value = totalRepayment.toFixed(2);
}
