Formula: Loan Amount = Business Price – Down Payment.
Monthly Payment = Loan Amount × (Interest Rate / 12) ÷ (1 – (1 + Interest Rate / 12)^(-Loan Term × 12)).
function calculateBusinessFinance() {
const businessPrice = parseFloat(document.getElementById(“businessPrice”).value);
const downPayment = parseFloat(document.getElementById(“downPayment”).value);
const loanInterestRate = parseFloat(document.getElementById(“loanInterestRate”).value) / 100;
const loanTerm = parseFloat(document.getElementById(“loanTerm”).value);
if (isNaN(businessPrice) || isNaN(downPayment) || isNaN(loanInterestRate) || isNaN(loanTerm)) {
alert(“Please fill in all fields with valid numbers.”);
return;
}
const loanAmount = businessPrice – downPayment;
const monthlyPayment = loanAmount * (loanInterestRate / 12) / (1 – Math.pow(1 + loanInterestRate / 12, -loanTerm * 12));
document.getElementById(“loanAmount”).value = formatCurrency(loanAmount);
document.getElementById(“monthlyPayment”).value = formatCurrency(monthlyPayment);
document.getElementById(“calculationSteps”).style.display = ‘block’;
document.getElementById(“stepsDetails”).style.display = ‘block’;
}
function formatCurrency(amount) {
return `$${amount.toFixed(2)}`;
}
function toggleCalculationSteps() {
const stepsDetails = document.getElementById(“stepsDetails”);
if (stepsDetails.style.display === “none”) {
stepsDetails.style.display = “block”;
} else {
stepsDetails.style.display = “none”;
}
}
