A Loan Calculator App
Monthly Payment: $0.00
Total Payment: $0.00
function calculateLoan() {
var amount = parseFloat(document.getElementById(“loanAmount”).value);
var rate = parseFloat(document.getElementById(“interestRate”).value) / 100 / 12;
var term = parseFloat(document.getElementById(“loanTerm”).value) * 12;
if (isNaN(amount) || isNaN(rate) || isNaN(term) || amount <= 0 || rate <= 0 || term <= 0) {
alert("Please enter valid values for all fields.");
return;
}
var monthlyPayment = (amount * rate) / (1 – Math.pow(1 + rate, -term));
var totalPayment = monthlyPayment * term;
document.getElementById("monthlyPayment").textContent = "Monthly Payment: $" + monthlyPayment.toFixed(2);
document.getElementById("totalPayment").textContent = "Total Payment: $" + totalPayment.toFixed(2);
}
