You are about to buy a car or house, and you plan to take a loan from a bank or
ID: 3602020 • Letter: Y
Question
You are about to buy a car or house, and you plan to take a loan from a bank or mortgage company. Knowing the amount you are borrowing, the interest rate, and the loan duration, you want to find out whether your monthly payment is affordable or not. Write a JavaScript program that will accept the loan amount (a text box), the interest rate (a text box) as a percent, and the number of years for the loan (a text box). Upon pressing a button (“Calculate”), the monthly payment amount is displayed in a text box. There should also be a button to clear entries in all text boxes whenever you want to perform a new calculation.
Explanation / Answer
<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html xmlns="http://www.w3.org/1999/xhtml">
<head>
<meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" />
<title>Untitled Document</title>
</head>
<body>
<table>
<tr>
<td valign="top" class="maintxt"><strong class="subheading"><br />LOAN EMI CALCUALTOR </strong><br />
<script language="javascript" type="text/JavaScript">
function clearval(docname) {
docname.txtLoanAmount.value="";
docname.txtInterestRate.value="";
docname.txtPeriod.value="";
docname.resultemi.value="";
docname.Selectopt.selectedIndex=0;
docname.txtLoanAmount.focus();
return false;
}
function checkval(docname){
var i;
var getval=docname.value;
var count_deci=0;
var flag=0;
for(i=0;i<getval.length;i=i+1) {
if((getval.charAt(i) >= "0" && getval.charAt(i) <= "9") || (getval.charAt(i) == ".")) {
if(getval.charAt(i) == ".") {
count_deci=count_deci+1;
if(getval.charAt(i+1)=="") {
alert("Wrong entry");
docname.amt.value="";
docname.amt.focus();
flag=1;
break;
}
}
if(count_deci>1) {
alert("Illegal Data");
docname.amt.value="";
docname.amt.focus();
flag=1;
break;
}
}
else {
alert("Invalid Entry");
docname.value="";
docname.focus();
flag=1;
break;
}
}
}
function CalculateValue(docname) {
subflag = true;
if(subflag) {
var LoanA,IntR,TimeP;
var TypeOfLoan;
var Multiplier,numerator,denominator;
var EMI;
LoanA=docname.txtLoanAmount.value;
IntR=docname.txtInterestRate.value;
TimeP=docname.txtPeriod.value;
TypeOfLoan=docname.Selectopt.value;
if(TypeOfLoan=="Monthly")
Multiplier=12;
else
Multiplier=1;
numerator=LoanA*Math.pow((1+IntR/(Multiplier*100)),TimeP*Multiplier);
denominator=100*Multiplier*((Math.pow((1+IntR/(Multiplier*100)),TimeP*Multiplier)-1)/IntR);
if(TypeOfLoan=="Monthly")
EMI=12*(numerator/(denominator*12));
else
EMI=numerator/denominator;
var emi;
emi=Math.round(EMI);
docname.resultemi.value=emi;
return false;
}
}
</script>
<form name="frmEMI" method="post">
<table width="90%" border="0" align="left" cellpadding="3" cellspacing="0" class="bdrAll">
<tr>
<td class="headVr ar" width="24%">Loan Amount (Rs.)</td>
<td width="76%" align="left"><input type="text" class="input" name="txtLoanAmount" size="17"></td>
</tr>
<tr>
<td class="headVr ar" width="24%">Interest Rate (%)</td>
<td align="left">
<input type="text" class="input" name="txtInterestRate" size="17"></td>
</tr>
<tr>
<td class="headVr ar" width="24%">Loan Period (Yrs)</td>
<td align="left"><input type="text" class="input" name="txtPeriod" size="17"></td>
</tr>
<tr>
<td class="headVr ar" width="24%">Equated Monthly Installment (<b>EMI</b>)</td>
<td align="left" valign="TOP" class="p2px5px"><input type="text" class="input" name="resultemi" size="10" readonly /></td>
</tr>
<tr>
<td> </td>
<td align="left" valign="TOP">
<input type="hidden" name="Selectopt" value="Monthly">
<a href=""><input class="button" type="button" name="Submit" value="Calculate" alt="Calculate"></a> <a href=""><input type="button" name="Submit" value="Clear" alt="Clear All" class="button"></a></td>
</tr>
</table>
</form> </td>
</tr>
</table>
</body>
</html>
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