Cheap Loans Calculator

let loanSteps = “”; const currencySymbol = “$”, fixedCurrency = “USD”; function calculateLoan(){ loanSteps=””; const loanAmount = parseFloat(document.getElementById(“loanAmount”).value); const interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100 / 12; const loanTerm = parseInt(document.getElementById(“loanTerm”).value) * 12; if(isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || 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)); document.getElementById("monthlyPayment").value = formatCurrency(monthlyPayment); loanSteps += `Inputs:
Loan Amount: ${formatCurrency(loanAmount)}
Interest Rate: ${(interestRate*100*12).toFixed(2)}%
Loan Term: ${loanTerm / 12} years

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

`; loanSteps += `Result:
Monthly Payment: ${formatCurrency(monthlyPayment)}
`; loanSteps += `Tip: Ensure that your loan amount, interest rate, and term are within reasonable limits for the best deal.`; if(document.getElementById(“calculationStepsLoan”).style.display === “block”){ document.getElementById(“calculationStepsLoan”).innerHTML = loanSteps; } } function resetLoan(){ document.querySelectorAll(“#calculator input”).forEach(el => el.value = “”); loanSteps = “”; document.getElementById(“calculationStepsLoan”).innerHTML = “

Not calculated yet.

“; } function toggleLoanSteps(){ const steps = document.getElementById(“calculationStepsLoan”); const arrow = document.getElementById(“toggleArrowLoan”); if(steps.style.display === “none” || steps.style.display === “”){ steps.style.display = “block”; arrow.style.transform = “rotate(180deg)”; steps.innerHTML = loanSteps || “

Not calculated yet.

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