CIBC Barbados Car Loan Calculator
Monthly Payment: — BBD
Total Interest: — BBD
Total Loan Amount: — BBD
function calculateLoan() {
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 values.");
return;
}
const monthlyPayment = (loanAmount * interestRate) / (1 – Math.pow(1 + interestRate, -loanTerm));
const totalInterest = (monthlyPayment * loanTerm) – loanAmount;
const totalLoanAmount = loanAmount + totalInterest;
document.getElementById("monthlyPayment").textContent = monthlyPayment.toFixed(2);
document.getElementById("totalInterest").textContent = totalInterest.toFixed(2);
document.getElementById("totalLoanAmount").textContent = totalLoanAmount.toFixed(2);
}
