Monthly Payment: $0.00
Total Interest: $0.00
Total Payment: $0.00
function calculateLoan() {
const loanAmount = parseFloat(document.getElementById(‘loanAmount’).value);
const interestRate = parseFloat(document.getElementById(‘interestRate’).value) / 100 / 12;
const loanTerm = parseInt(document.getElementById(‘loanTerm’).value) * 12;
if (isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || loanAmount <= 0 || interestRate <= 0 || loanTerm <= 0) {
alert('Please enter valid positive values for all fields.');
return;
}
const monthlyPayment = (loanAmount * interestRate) / (1 – Math.pow(1 + interestRate, -loanTerm));
const totalPayment = monthlyPayment * loanTerm;
const totalInterest = totalPayment – loanAmount;
document.getElementById('monthlyPayment').innerText = monthlyPayment.toFixed(2);
document.getElementById('totalInterest').innerText = totalInterest.toFixed(2);
document.getElementById('totalPayment').innerText = totalPayment.toFixed(2);
}
function resetLoan() {
document.getElementById('personalLoanCalculatorForm').reset();
document.getElementById('monthlyPayment').innerText = '0.00';
document.getElementById('totalInterest').innerText = '0.00';
document.getElementById('totalPayment').innerText = '0.00';
}
