Loan Repayment Calculator Home

let calculationSteps = “”; const currencySymbol = “$”, fixedCurrency = “USD”; function calculateLoanRepayment(){ 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; if(isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || loanAmount <= 0 || interestRate <= 0 || loanTerm <= 0){ alert("Please enter valid positive values for all fields."); return; } const monthlyPayment = (loanAmount * interestRate) / (1 – Math.pow(1 + interestRate, -loanTerm)); document.getElementById("monthlyPayment").value = formatCurrency(monthlyPayment); calculationSteps += `Inputs:
Loan Amount: ${formatCurrency(loanAmount)}
Interest Rate: ${(interestRate * 100 * 12).toFixed(2)}%
Loan Term: ${loanTerm / 12} years

`; calculationSteps += `Formula:
Monthly Payment = Loan Amount × Interest Rate / (1 – (1 + Interest Rate)^-Loan Term)

`; calculationSteps += `Result:
Monthly Payment: ${formatCurrency(monthlyPayment)}
`; calculationSteps += `Tip: The longer the loan term, the smaller your monthly payment, but the more you’ll pay in interest over time.`; if(document.getElementById(“calculationSteps”).style.display === “block”){ document.getElementById(“calculationSteps”).innerHTML = calculationSteps; } } function resetLoanRepayment(){ document.querySelectorAll(“#calculator input”).forEach(el => el.value = “”); calculationSteps = “”; 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 = calculationSteps || “

Not calculated yet.

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