function calculateCarLoan() {
var loanAmount = parseFloat(document.getElementById(‘loan-amount’).value);
var interestRate = parseFloat(document.getElementById(‘interest-rate’).value);
var loanTerm = parseInt(document.getElementById(‘loan-term’).value);
var downPayment = parseFloat(document.getElementById(‘down-payment’).value);
if (isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || isNaN(downPayment)) {
alert(“Please enter valid values for all fields.”);
return;
}
var principal = loanAmount – downPayment;
var monthlyInterestRate = (interestRate / 100) / 12;
var numberOfPayments = loanTerm * 12;
var monthlyPayment = (principal * monthlyInterestRate) / (1 – Math.pow(1 + monthlyInterestRate, -numberOfPayments));
document.getElementById(‘monthly-payment’).value = monthlyPayment.toFixed(2);
// Display loan summary
document.getElementById(‘loan-amount-summary’).innerText = “Loan Amount: $” + loanAmount;
document.getElementById(‘interest-rate-summary’).innerText = “Interest Rate: ” + interestRate + “%”;
document.getElementById(‘loan-term-summary’).innerText = “Loan Term: ” + loanTerm + ” years”;
document.getElementById(‘down-payment-summary’).innerText = “Down Payment: $” + downPayment;
document.getElementById(‘monthly-payment-summary’).innerText = “Monthly Payment: $” + monthlyPayment.toFixed(2);
document.getElementById(‘loan-summary’).style.display = “block”;
}
