Balloon Payment Calculator Fixed Payment

let balloonSteps = “”; const currencySymbol = “$”, fixedCurrency = “USD”; function calculateBalloonPayment(){ balloonSteps=””; const loanAmount = parseFloat(document.getElementById(“loanAmount”).value); const interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100; const loanTerm = parseInt(document.getElementById(“loanTerm”).value); const monthlyPayment = parseFloat(document.getElementById(“monthlyPayment”).value); if (isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || isNaN(monthlyPayment) || loanAmount <= 0 || loanTerm <= 0 || monthlyPayment <= 0) { alert("Please enter valid positive values for all fields."); return; } const totalPayments = loanTerm * 12; const totalPaid = monthlyPayment * totalPayments; const interestPaid = loanAmount * interestRate * loanTerm; const balloonAmount = totalPaid – loanAmount – interestPaid; document.getElementById("balloonPayment").value = formatCurrency(balloonAmount); balloonSteps += `Inputs:
Loan Amount: ${formatCurrency(loanAmount)}
Interest Rate: ${(interestRate * 100).toFixed(1)}%
Loan Term: ${loanTerm} years
Fixed Monthly Payment: ${formatCurrency(monthlyPayment)}

`; balloonSteps += `Formulas:
Balloon Payment = Total Payments – (Loan Amount + Interest Paid)

`; balloonSteps += `Results:
Balloon Payment: ${formatCurrency(balloonAmount)}
`; balloonSteps += `Tip: A balloon payment means a large lump sum due at the end of the loan term. Be sure to plan for it accordingly.`; if (document.getElementById(“calculationStepsBalloon”).style.display === “block”) { document.getElementById(“calculationStepsBalloon”).innerHTML = balloonSteps; } } function resetBalloonPayment(){ document.querySelectorAll(“#balloonPaymentCalculator input”).forEach(el => el.value = “”); balloonSteps = “”; document.getElementById(“calculationStepsBalloon”).innerHTML = “

Not calculated yet.

“; } function toggleBalloonPaymentSteps(){ const s = document.getElementById(“calculationStepsBalloon”); const a = document.getElementById(“toggleArrowBalloon”); if (s.style.display === “none” || s.style.display === “”) { s.style.display = “block”; a.style.transform = “rotate(180deg)”; s.innerHTML = balloonSteps || “

Not calculated yet.

“; } else { s.style.display = “none”; a.style.transform = “rotate(0deg)”; } } function formatCurrency(n) { return currencySymbol + n.toFixed(2) + ” ” + fixedCurrency; }