Simple Loan Calculator
function calculateLoan() {
const amount = parseFloat(document.getElementById(‘loanAmount’).value);
const rate = parseFloat(document.getElementById(‘interestRate’).value) / 100 / 12;
const term = parseFloat(document.getElementById(‘loanTerm’).value) * 12;
if (!isNaN(amount) && !isNaN(rate) && !isNaN(term) && amount > 0 && rate > 0 && term > 0) {
const monthlyPayment = (amount * rate) / (1 – Math.pow(1 + rate, -term));
const totalRepayment = monthlyPayment * term;
document.getElementById(‘monthlyPayment’).value = monthlyPayment.toFixed(2);
document.getElementById(‘totalRepayment’).value = totalRepayment.toFixed(2);
} else {
alert(“Please enter valid positive values.”);
}
}
function resetLoan() {
document.getElementById(‘loanAmount’).value = ”;
document.getElementById(‘interestRate’).value = ”;
document.getElementById(‘loanTerm’).value = ”;
document.getElementById(‘monthlyPayment’).value = ”;
document.getElementById(‘totalRepayment’).value = ”;
}
