Loan Details
Monthly EMI: ₹
Total Interest Payable: ₹
Total Amount Payable: ₹
function calculateLoan() {
let loanAmount = parseFloat(document.getElementById(‘loanAmount’).value);
let interestRate = parseFloat(document.getElementById(‘interestRate’).value);
let loanTerm = parseFloat(document.getElementById(‘loanTerm’).value);
if(isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || loanAmount <= 0 || interestRate <= 0 || loanTerm <= 0) {
alert("Please enter valid values.");
return;
}
let monthlyInterestRate = interestRate / 12 / 100;
let numberOfPayments = loanTerm * 12;
let monthlyEmi = loanAmount * monthlyInterestRate * Math.pow(1 + monthlyInterestRate, numberOfPayments) / (Math.pow(1 + monthlyInterestRate, numberOfPayments) – 1);
let totalPayable = monthlyEmi * numberOfPayments;
let totalInterest = totalPayable – loanAmount;
document.getElementById('monthlyEmi').textContent = monthlyEmi.toFixed(2);
document.getElementById('totalInterest').textContent = totalInterest.toFixed(2);
document.getElementById('totalPayable').textContent = totalPayable.toFixed(2);
document.getElementById('loanCalculationResults').style.display = 'block';
}
