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# Design a Loan Calculator using JavaScript

The Loan Calculator can be used to calculate the monthly EMI of the loan by taking the total amount, months to repay, and the rate of interest.

Approach: The approach is very simple, we will take 3 inputs from the user i.e. amount (total loan amount), rate (the rate of interest), and months (number o months to repay). Using these three, we can calculate the total amount. At last, we will display the total amount.

Formula:

interest = (amount * (rate * 0.01))/months;
total = ((amount/months) + interest);

Using HTML we are designing the simple structure and giving style using CSS(internal CSS). At the time of input we are calling calculate() function and displaying the result. The calculate() function takes input using HTML attribute named – onchange (the onchange attribute fires the moment when the value of the element is changed).

Prerequisite: Basics concepts of HTML, CSS, and JavaScript.

Example: We will make two separate files i.e. HTML and JavaScript and link the JavaScript file within HTML file.

• HTML – (index.html): It is used to Create a basic structure for the Loan Calculator
• CSS – It is used to design the Loan Calculator
• JavaScript – (app.js): It is used to implement the formula

## HTML

       Loan Calculator

Loan Calculator

Amount (₹)     :

Interest Rate :

Months to Pay :

## CSS

 body {     background-color: yellow;     font-family: 'Trebuchet MS';} h1 {     font-size: 35px;} h1 {     font-size: 21px;     margin-top: 20px;} .calculator {     width: 400px;     height: 450px;     background-color: black;     position: absolute;     left: 50%;     top: 50%;     transform: translateX(-50%) translateY(-50%);     padding: 20px 0px 0px 100px;     border-radius: 50px;     color: white;} input {     padding: 7px;     width: 70%;     margin-top: 7px;}

## Javascript

 function Calculate() {      // Extracting value in the amount     // section in the variable    const amount = document.querySelector("#amount").value;      // Extracting value in the interest    // rate section in the variable    const rate = document.querySelector("#rate").value;      // Extracting value in the months     // section in the variable    const months = document.querySelector("#months").value;      // Calculating interest per month    const interest = (amount * (rate * 0.01)) / months;          // Calculating total payment    const total = ((amount / months) + interest).toFixed(2);      document.querySelector("#total")            .innerHTML = "EMI : (₹)" + total;}

Design a Loan Calculator using JavaScript