Loan Repayment Details
Monthly Payment: $
Total Payment: $
Total Interest: $
function calculateCarLoan() {
const loanAmount = parseFloat(document.getElementById(“loanAmount”).value);
const interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100 / 12;
const loanTerm = parseFloat(document.getElementById(“loanTerm”).value) * 12;
if (isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || loanAmount <= 0 || interestRate <= 0 || loanTerm <= 0) {
alert("Please enter valid values for all fields.");
return;
}
const monthlyPayment = (loanAmount * interestRate) / (1 – Math.pow(1 + interestRate, -loanTerm));
const totalPayment = monthlyPayment * loanTerm;
const totalInterest = totalPayment – loanAmount;
document.getElementById("monthlyPayment").innerText = monthlyPayment.toFixed(2);
document.getElementById("totalPayment").innerText = totalPayment.toFixed(2);
document.getElementById("totalInterest").innerText = totalInterest.toFixed(2);
document.getElementById("loanResults").style.display = "block";
}
