Auto Loan Amortization Calculator
Amortization Results
Monthly Payment: $0.00
Total Payment: $0.00
Total Interest: $0.00
function calculateAmortization() { let loanAmount = parseFloat(document.getElementById(“loanAmount”).value); let interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100 / 12; let loanTerm = parseInt(document.getElementById(“loanTerm”).value) * 12; let balloonPayment = parseFloat(document.getElementById(“balloonPayment”).value); if (isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || isNaN(balloonPayment)) { alert(“Please fill in all fields with valid values.”); return; } let monthlyPayment = (loanAmount – balloonPayment) * (interestRate * Math.pow(1 + interestRate, loanTerm)) / (Math.pow(1 + interestRate, loanTerm) – 1); let totalPayment = (monthlyPayment * loanTerm) + balloonPayment; let totalInterest = totalPayment – loanAmount; document.getElementById(“monthlyPayment”).innerText = `Monthly Payment: $${monthlyPayment.toFixed(2)}`; document.getElementById(“totalPayment”).innerText = `Total Payment: $${totalPayment.toFixed(2)}`; document.getElementById(“totalInterest”).innerText = `Total Interest: $${totalInterest.toFixed(2)}`; }