App Car Loan Calculator India

function calculateEMI() { const loanAmount = parseFloat(document.getElementById(“loanAmount”).value); const loanTerm = parseFloat(document.getElementById(“loanTerm”).value); const interestRate = parseFloat(document.getElementById(“interestRate”).value); const downPayment = parseFloat(document.getElementById(“downPayment”).value); if (isNaN(loanAmount) || isNaN(loanTerm) || isNaN(interestRate) || isNaN(downPayment)) { alert(“Please fill all the fields with valid values.”); return; } const principal = loanAmount – downPayment; const monthlyInterestRate = interestRate / 12 / 100; const numberOfPayments = loanTerm * 12; const emi = (principal * monthlyInterestRate * Math.pow(1 + monthlyInterestRate, numberOfPayments)) / (Math.pow(1 + monthlyInterestRate, numberOfPayments) – 1); document.getElementById(“emi”).value = emi.toFixed(2); const steps = ` Inputs:
Loan Amount: ₹${loanAmount}
Loan Term: ${loanTerm} years
Interest Rate: ${interestRate}%
Down Payment: ₹${downPayment}

Formula:
EMI = [P × r × (1 + r)^n] / [(1 + r)^n – 1]

Results:
Estimated EMI: ₹${emi.toFixed(2)}
`; document.getElementById(“steps”).innerHTML = steps; } function resetFields() { document.querySelectorAll(“#car-loan-calculator input”).forEach(input => input.value = “”); document.getElementById(“emi”).value = “”; document.getElementById(“steps”).innerHTML = “

Not calculated yet.

“; } function toggleSteps() { const stepsContent = document.getElementById(“steps”); const arrow = document.getElementById(“steps-toggle-arrow”); if (stepsContent.style.display === “none” || stepsContent.style.display === “”) { stepsContent.style.display = “block”; arrow.textContent = “▲”; } else { stepsContent.style.display = “none”; arrow.textContent = “▼”; } }