let secondMortgageSteps = “”; const currencySymbol = “$”, fixedCurrency = “USD”; function calculateSecondMortgage(){ secondMortgageSteps=””; const loanAmount=parseFloat(document.getElementById(“loanAmount”).value); const interestRate=parseFloat(document.getElementById(“interestRate”).value)/100; const loanTerm=parseFloat(document.getElementById(“loanTerm”).value)*12; if(isNaN(loanAmount)||isNaN(interestRate)||isNaN(loanTerm)||loanAmount<=0||loanTerm<=0){ alert("Please enter valid positive values for all fields."); return; } const monthlyInterest = interestRate / 12; const monthlyPayment = loanAmount * monthlyInterest / (1 – Math.pow(1 + monthlyInterest, -loanTerm)); document.getElementById("monthlyPayment").value = formatCurrency(monthlyPayment); secondMortgageSteps += `Inputs:
Loan Amount: ${formatCurrency(loanAmount)}
Interest Rate: ${(interestRate*100).toFixed(1)}%
Loan Term: ${loanTerm/12} Years

`; secondMortgageSteps += `Formula:
Monthly Payment = Loan Amount × (Monthly Interest Rate) / (1 – (1 + Monthly Interest Rate) ^ -Loan Term)

`; secondMortgageSteps += `Result:
Monthly Payment: ${formatCurrency(monthlyPayment)}
`; secondMortgageSteps += `Tip: Longer loan terms can lower your monthly payment, but result in higher interest paid over time.`; if(document.getElementById(“calculationStepsSecondMortgage”).style.display===”block”){ document.getElementById(“calculationStepsSecondMortgage”).innerHTML = secondMortgageSteps; } } function resetSecondMortgage(){ document.querySelectorAll(“#secondMortgageCalculator input”).forEach(el=>el.value=””); secondMortgageSteps=””; document.getElementById(“calculationStepsSecondMortgage”).innerHTML=”

Not calculated yet.

“; } function toggleSecondMortgageSteps(){ const s=document.getElementById(“calculationStepsSecondMortgage”); const a=document.getElementById(“toggleArrowSecondMortgage”); if(s.style.display===”none”||s.style.display===””){ s.style.display=”block”;a.style.transform=”rotate(180deg)”; s.innerHTML=secondMortgageSteps||”

Not calculated yet.

”