Loan calculator

Loan calculator

Anz Car Loan Repayment Calculator

ANZ Car Loan Repayment Calculator

ANZ Car Loan Repayment Calculator

Loan Amount ($) Interest Rate (%) Loan Term (years) Monthly Payment ($)

This ANZ car loan repayment calculator helps you calculate your monthly repayment based on your loan amount, interest rate, and loan term.

Car Loan Formula

Monthly Payment = [Loan Amount × (Interest Rate / 100) / 12] × [(1 + Interest Rate / 100 / 12) ^ (Loan Term × 12)] / [(1 + Interest Rate / 100 / 12) ^ (Loan Term × 12) – 1]

Example Calculation

If you borrow $20,000 with an interest rate of 5% over 5 years, your monthly repayment will be calculated based on the formula.

function calculateANZCarLoan() { const loanAmount = parseFloat(document.getElementById(“loanAmount”).value); const interestRate = parseFloat(document.getElementById(“interestRate”).value); const loanTerm = parseFloat(document.getElementById(“loanTerm”).value); if (isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || loanAmount <= 0 || interestRate <= 0 || loanTerm <= 0) { alert("Please enter valid positive values for all fields."); return; } const monthlyInterestRate = interestRate / 100 / 12; const numberOfPayments = loanTerm * 12; const monthlyPayment = loanAmount * monthlyInterestRate / (1 – Math.pow(1 + monthlyInterestRate, -numberOfPayments)); document.getElementById("monthlyPayment").value = monthlyPayment.toFixed(2); } function resetANZCarLoan() { document.getElementById("anz_car_loan_calculator").reset(); document.getElementById("monthlyPayment").value = ''; }

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