	free hosting image hosting hosting reseller online album e-shop famous people

Loan Calculator

This script lets you create a loan comparison table.

The results will be a close approximation of actual loan repayments you can expect from a financial institution.

Unfortunately, the original script from Website Abstraction doesn't format the output as dollars and cents.

So I added the Number to Currency Convertor.

Paste the code below in the head section of your page:

<script language="JavaScript">  </script>

Now paste this in the body section:

<form name=calc method=POST> <table width=400 border=0 cellpadding=10> <tr><th bgcolor="#aabbcc"><font color=navy>Parameter</font></th> <th bgcolor="#aabbcc"><font color=navy>Your Data</font></th></tr> <tr><td bgcolor="navy" align=center>Loan Amount</td><td bgcolor="navy" align=center> <input type=text name=loan size=10> </td></tr> <tr><td bgcolor="navy" align=center>Loan Length in Months</td><td bgcolor="navy" align=center> <input type=text name=months size=10> </td></tr> <tr><td bgcolor="navy" align=center>Interest Rate</td><td bgcolor="navy" align=center> <input type=text name=rate size=10> </td></tr> <tr><td bgcolor="navy" align=center> <input type=button onClick='showpay()' value=Calculate onFocus="this.blur()" style="background:#aabbcc; font-size:9pt; font-weight:bold;"> </td><td bgcolor="navy" align=center> <input type=reset value=Reset onFocus="this.blur()" style="background:#aabbcc; font-size:9pt; font-weight:bold;"> </td></tr> <tr><td bgcolor="aabbcc" align=center><font color=navy><b>Estimated<br> Monthly Payment :</b></font></td><td bgcolor="aabbcc" align=center> <input type=text name=pay size=14 readonly> </td></tr> <tr> <td colspan=2 align=center border=0> <font size=1 face=sans-serif>Enter only numeric values - no commas <br> Use decimal points where needed <br> Non-numeric values will cause errors </font> </td> </tr> </table> </form>

How It Works

The calculator is contained within a form named calc.

Each input box has its own name:

loan for the loan amount

months for the number of months

rate for the interest rate

pay for the final result

The pay box is set to read-only, to prevent any attempt at user input.

Clicking the Calculate button calls the function showpay().

First, this checks to see that all input values are valid:

if ((document.calc.loan.value == null
|| document.calc.loan.value.length == 0)
|| (document.calc.months.value == null
|| document.calc.months.value.length == 0)
|| (document.calc.rate.value == null
|| document.calc.rate.value.length == 0))

{ document.calc.pay.value = "Incomplete data";

If not, an Incomplete data message appears in the result box.

Otherwise, the input values are processed:

var princ = document.calc.loan.value;
var term = document.calc.months.value;
var intr = document.calc.rate.value / 1200;

Note : the rate value is divided by 1200 to convert to a monthly interest value.

Next, the monthly payment value is computed, then output as dollars and cents:

var currency = formatCurrency(princ * intr / (1 - (Math.pow(1/(1 + intr), term))));
document.calc.pay.value = currency;

Try It Out

Simply enter the appropriate values and click the Calculate button.

Clicking the Reset button will clear the form.

Parameter Your Data

Loan Amount

Loan Length in Months

Interest Rate

Estimated
Monthly Payment :

Enter only numeric values - no commas
Use decimal points where needed
Non-numeric values will cause errors

Parameter	Your Data
Loan Amount
Loan Length in Months
Interest Rate

Estimated Monthly Payment :
Enter only numeric values - no commas Use decimal points where needed Non-numeric values will cause errors