Loan Comparison Results
Loan 1 Monthly Payment: $0.00
Total Paid: $0.00
Loan 2 Monthly Payment: $0.00
Total Paid: $0.00
Loan 3 Monthly Payment: $0.00
Total Paid: $0.00
function calculateLoanComparison() {
const loanAmount = parseFloat(document.getElementById(“loanAmount”).value);
const loanTerm = parseFloat(document.getElementById(“loanTerm”).value);
const interestRate1 = parseFloat(document.getElementById(“interestRate1”).value) / 100;
const interestRate2 = parseFloat(document.getElementById(“interestRate2”).value) / 100;
const interestRate3 = parseFloat(document.getElementById(“interestRate3”).value) / 100;
if (isNaN(loanAmount) || isNaN(loanTerm) || isNaN(interestRate1) || isNaN(interestRate2) || isNaN(interestRate3)) {
alert(“Please enter valid values for all fields.”);
return;
}
function calculatePayment(loanAmount, interestRate, loanTerm) {
const monthlyRate = interestRate / 12;
const numberOfPayments = loanTerm * 12;
return (loanAmount * monthlyRate) / (1 – Math.pow(1 + monthlyRate, -numberOfPayments));
}
function calculateTotalPaid(monthlyPayment, loanTerm) {
return monthlyPayment * loanTerm * 12;
}
const monthlyPayment1 = calculatePayment(loanAmount, interestRate1, loanTerm);
const totalPaid1 = calculateTotalPaid(monthlyPayment1, loanTerm);
const monthlyPayment2 = calculatePayment(loanAmount, interestRate2, loanTerm);
const totalPaid2 = calculateTotalPaid(monthlyPayment2, loanTerm);
const monthlyPayment3 = calculatePayment(loanAmount, interestRate3, loanTerm);
const totalPaid3 = calculateTotalPaid(monthlyPayment3, loanTerm);
document.getElementById(“monthlyPayment1”).textContent = monthlyPayment1.toFixed(2);
document.getElementById(“totalPaid1”).textContent = totalPaid1.toFixed(2);
document.getElementById(“monthlyPayment2”).textContent = monthlyPayment2.toFixed(2);
document.getElementById(“totalPaid2”).textContent = totalPaid2.toFixed(2);
document.getElementById(“monthlyPayment3”).textContent = monthlyPayment3.toFixed(2);
document.getElementById(“totalPaid3”).textContent = totalPaid3.toFixed(2);
}
function resetForm() {
document.getElementById(“carLoanRateComparisonForm”).reset();
document.getElementById(“monthlyPayment1”).textContent = “0.00”;
document.getElementById(“totalPaid1”).textContent = “0.00”;
document.getElementById(“monthlyPayment2”).textContent = “0.00”;
document.getElementById(“totalPaid2”).textContent = “0.00”;
document.getElementById(“monthlyPayment3”).textContent = “0.00”;
document.getElementById(“totalPaid3”).textContent = “0.00”;
}
