Best Loan Amortization Calculator
Monthly
Quarterly
Annually
Amortization Schedule
| Payment No. |
Payment Amount |
Principal Payment |
Interest Payment |
Remaining Balance |
function calculateAmortization() {
const loanAmount = parseFloat(document.getElementById(‘loanAmount’).value);
const interestRate = parseFloat(document.getElementById(‘interestRate’).value) / 100;
const loanTerm = parseInt(document.getElementById(‘loanTerm’).value);
const paymentFrequency = document.getElementById(‘paymentFrequency’).value;
const paymentsPerYear = paymentFrequency === ‘monthly’ ? 12 : paymentFrequency === ‘quarterly’ ? 4 : 1;
const totalPayments = loanTerm * paymentsPerYear;
const monthlyInterestRate = interestRate / paymentsPerYear;
// Calculate the payment amount
const paymentAmount = loanAmount * (monthlyInterestRate * Math.pow(1 + monthlyInterestRate, totalPayments)) / (Math.pow(1 + monthlyInterestRate, totalPayments) – 1);
let balance = loanAmount;
let amortizationSchedule = ”;
// Generate amortization table
for (let i = 1; i <= totalPayments; i++) {
const interestPayment = balance * monthlyInterestRate;
const principalPayment = paymentAmount – interestPayment;
balance -= principalPayment;
amortizationSchedule += `
| ${i} |
${paymentAmount.toFixed(2)} |
${principalPayment.toFixed(2)} |
${interestPayment.toFixed(2)} |
${balance < 0 ? 0 : balance.toFixed(2)} |
`;
}
// Display results
document.querySelector(“#amortizationTable tbody”).innerHTML = amortizationSchedule;
document.getElementById(‘result-container’).style.display = ‘block’;
}
