Loan Repayment Calculator – Bank SA
Total Repayment: $0
Total Interest: $0
function calculateLoanRepayment() {
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 fill in all fields with valid values.");
return;
}
const monthlyPayment = (loanAmount * interestRate) / (1 – Math.pow(1 + interestRate, -loanTerm));
const totalRepayment = monthlyPayment * loanTerm;
const totalInterest = totalRepayment – loanAmount;
document.getElementById('monthlyPayment').value = monthlyPayment.toFixed(2);
document.getElementById('totalRepayment').textContent = "Total Repayment: $" + totalRepayment.toFixed(2);
document.getElementById('totalInterest').textContent = "Total Interest: $" + totalInterest.toFixed(2);
}
function resetCalculator() {
document.getElementById('loanAmount').value = '';
document.getElementById('interestRate').value = '';
document.getElementById('loanTerm').value = '';
document.getElementById('monthlyPayment').value = '';
document.getElementById('totalRepayment').textContent = "Total Repayment: $0";
document.getElementById('totalInterest').textContent = "Total Interest: $0";
}
