Loan Results
Monthly Repayment: $0.00
Total Repayment: $0.00
Total Interest: $0.00
function calculateHomeLoan() {
const loanAmount = parseFloat(document.getElementById(‘loanAmount’).value);
const interestRate = parseFloat(document.getElementById(‘interestRate’).value) / 100;
const loanTerm = parseInt(document.getElementById(‘loanTerm’).value);
const repaymentFrequency = document.getElementById(‘repaymentFrequency’).value;
if (isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || loanAmount <= 0 || interestRate <= 0 || loanTerm <= 0) {
alert("Please enter valid positive values for all fields.");
return;
}
let totalRepayment, totalInterest, monthlyRepayment;
const numberOfPayments = repaymentFrequency === "monthly" ? loanTerm * 12 : repaymentFrequency === "fortnightly" ? loanTerm * 26 : loanTerm * 52;
const monthlyInterestRate = interestRate / 12;
if (repaymentFrequency === "monthly") {
monthlyRepayment = (loanAmount * monthlyInterestRate) / (1 – Math.pow(1 + monthlyInterestRate, -numberOfPayments));
} else {
const weeklyInterestRate = interestRate / 52;
monthlyRepayment = (loanAmount * weeklyInterestRate) / (1 – Math.pow(1 + weeklyInterestRate, -numberOfPayments));
}
totalRepayment = monthlyRepayment * numberOfPayments;
totalInterest = totalRepayment – loanAmount;
document.getElementById('monthlyRepayment').innerText = "Monthly Repayment: " + monthlyRepayment.toFixed(2);
document.getElementById('totalRepayment').innerText = "Total Repayment: " + totalRepayment.toFixed(2);
document.getElementById('totalInterest').innerText = "Total Interest: " + totalInterest.toFixed(2);
}
