Extra Car Payment Calculator with Interest

let calculationSteps = “”; function calculateExtraPayments(){ 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 extraPayment = parseFloat(document.getElementById(“extraPayment”).value); if(isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || isNaN(extraPayment) || loanAmount <= 0 || interestRate <= 0 || loanTerm 0) { balance = balance * (1 + interestRate) – (monthlyPayment + extraPayment); totalInterest += (monthlyPayment + extraPayment) * interestRate; months++; if(balance <= 0) break; } let newLoanTerm = (months / 12).toFixed(1); document.getElementById("newLoanTerm").value = newLoanTerm; document.getElementById("totalInterestPaid").value = totalInterest.toFixed(2); calculationSteps += `Inputs:
Loan Amount: $${loanAmount.toFixed(2)}
Annual Interest Rate: ${(interestRate*12*100).toFixed(2)}%
Loan Term: ${loanTerm / 12} years
Extra Monthly Payment: $${extraPayment.toFixed(2)}

`; calculationSteps += `Results:
New Loan Term: ${newLoanTerm} years
Total Interest Paid: $${totalInterest.toFixed(2)}

`; calculationSteps += `Tip: Making extra payments will reduce your loan term and the total interest paid over the life of the loan.`; if(document.getElementById(“calculationSteps”).style.display===”block”){ document.getElementById(“calculationSteps”).innerHTML = calculationSteps; } } function resetCalculator(){ 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)”; } }