Car Payment Calculator with Balloon Payment

let calculationSteps = “”; const currencySymbol = “$”, fixedCurrency = “USD”; function calculateCarPayment(){ calculationSteps=””; const loanAmount = parseFloat(document.getElementById(“loanAmount”).value); const interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100 / 12; const loanTerm = parseFloat(document.getElementById(“loanTerm”).value) * 12; const balloonPayment = parseFloat(document.getElementById(“balloonPayment”).value); if(isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || isNaN(balloonPayment) || loanAmount <= 0 || interestRate <= 0 || loanTerm <= 0){ alert("Please enter valid positive values for all fields."); return; } const monthlyPayment = (loanAmount * interestRate) / (1 – Math.pow(1 + interestRate, -loanTerm)) + balloonPayment / loanTerm; document.getElementById("monthlyPayment").value = formatCurrency(monthlyPayment); calculationSteps += `Inputs:
Loan Amount: ${formatCurrency(loanAmount)}
Interest Rate: ${(interestRate*100).toFixed(2)}%
Loan Term: ${loanTerm/12} years
Balloon Payment: ${formatCurrency(balloonPayment)}

`; calculationSteps += `Formulas:
Monthly Payment = (Loan Amount × Interest Rate) / (1 – (1 + Interest Rate)^(-Loan Term)) + Balloon Payment / Loan Term

`; calculationSteps += `Results:
Estimated Monthly Payment: ${formatCurrency(monthlyPayment)}
`; calculationSteps += `Tip: Balloon payments can reduce monthly payments, but they will require a lump sum payment at the end of the term.`; if(document.getElementById(“calculationSteps”).style.display === “block”){ document.getElementById(“calculationSteps”).innerHTML = calculationSteps; } } function resetCarPayment(){ document.querySelectorAll(“#calculator input”).forEach(el => el.value = “”); calculationSteps = “”; document.getElementById(“calculationSteps”).innerHTML = “

Not calculated yet.

“; } function toggleCalculationSteps(){ const steps = document.getElementById(“calculationSteps”); const arrow = document.getElementById(“toggleArrow”); if(steps.style.display === “none” || steps.style.display === “”){ steps.style.display = “block”; arrow.style.transform = “rotate(180deg)”; steps.innerHTML = calculationSteps || “

Not calculated yet.

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