Loan Prepayment Calculator
Calculate how early loan payments affect the remaining balance and interest payments.
function calculatePrepayment(){
const loanAmount = parseFloat(document.getElementById(“loanAmount”).value);
const interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100;
const loanTerm = parseInt(document.getElementById(“loanTerm”).value);
const prepaymentAmount = parseFloat(document.getElementById(“prepaymentAmount”).value);
const prepaymentMonth = parseInt(document.getElementById(“prepaymentMonth”).value);
if(isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || isNaN(prepaymentAmount) || isNaN(prepaymentMonth) || loanAmount <= 0 || interestRate <= 0 || loanTerm el.value = “”);
}
function formatCurrency(amount){
return “$” + amount.toFixed(2);
}
