Auto Loan Calculator – 75 Months
function calculateAutoLoan() {
const loanAmount = parseFloat(document.getElementById(‘loanAmount’).value);
const interestRate = parseFloat(document.getElementById(‘interestRate’).value) / 100;
const loanTerm = parseInt(document.getElementById(‘loanTerm’).value);
if (isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm)) {
alert(‘Please enter valid values for all fields.’);
return;
}
const monthlyRate = interestRate / 12;
const monthlyPayment = (loanAmount * monthlyRate) / (1 – Math.pow(1 + monthlyRate, -loanTerm));
const totalPayment = monthlyPayment * loanTerm;
const totalInterest = totalPayment – loanAmount;
document.getElementById(‘monthlyPayment’).value = monthlyPayment.toFixed(2);
document.getElementById(‘totalInterest’).innerText = `Total Interest: $${totalInterest.toFixed(2)}`;
document.getElementById(‘totalPayment’).innerText = `Total Payment: $${totalPayment.toFixed(2)}`;
document.getElementById(‘loanDetails’).style.display = ‘block’;
}
