Home Loan Partial Payment Calculator Excel

let steps = “”; const currencySymbol = “$”, fixedCurrency = “USD”; function calculateRemainingBalance(){ steps = “”; const loanAmount = parseFloat(document.getElementById(“loanAmount”).value); const interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100; const loanTerm = parseFloat(document.getElementById(“loanTerm”).value) * 12; // Convert years to months const partialPayment = parseFloat(document.getElementById(“partialPayment”).value); if(isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || isNaN(partialPayment) || loanAmount <= 0 || interestRate <= 0 || loanTerm <= 0){ alert("Please enter valid positive values for all fields."); return; } // Calculate monthly payment const monthlyRate = interestRate / 12; const monthlyPayment = loanAmount * monthlyRate / (1 – Math.pow(1 + monthlyRate, -loanTerm)); // Adjust loan amount after partial payment const remainingBalance = loanAmount – partialPayment; document.getElementById("remainingBalance").value = formatCurrency(remainingBalance); steps += `Inputs:
Loan Amount: ${formatCurrency(loanAmount)}
Interest Rate: ${(interestRate * 100).toFixed(2)}%
Loan Term: ${loanTerm / 12} years
Partial Payment: ${formatCurrency(partialPayment)}

`; steps += `Formulas:
Monthly Payment = Loan Amount × Monthly Rate / (1 – (1 + Monthly Rate)^(-Loan Term))
Remaining Balance = Loan Amount – Partial Payment

`; steps += `Results:
Remaining Loan Balance: ${formatCurrency(remainingBalance)}
`; if(document.getElementById(“calculationSteps”).style.display === “block”){ document.getElementById(“calculationSteps”).innerHTML = steps; } } function resetCalculator(){ document.querySelectorAll(“#calculator input”).forEach(el => el.value = “”); steps = “”; document.getElementById(“calculationSteps”).innerHTML = “

Not calculated yet.

“; } function toggleCalculationSteps(){ const s = document.getElementById(“calculationSteps”); const a = document.getElementById(“toggleArrow”); if(s.style.display === “none” || s.style.display === “”){ s.style.display = “block”; a.style.transform = “rotate(180deg)”; s.innerHTML = steps || “

Not calculated yet.

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