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<h2>JQuery Mortgage Calculator</h2> | |
<script type='text/javascript' src='http://jqueryjs.googlecode.com/files/jquery-1.2.6.min.js'></script> | |
<!--The following formula is used to calculate the fixed monthly payment (P) required to fully amortize a loan of L dollars over a term of n months at a monthly interest rate of c. [If the quoted rate is 6%, for example, c is .06/12 or .005]. P = L[c(1 + c)^n]/[(1 + c)^n - 1]--> | |
<h3>Mortgage Calculator Example<br /></h3> | |
<form> | |
<p><input id="mcPrice" class="mortgageField" name="mcPrice" type="text" /> Sale price ($)</p> | |
<p><input id="mcDown" class="mortgageField" name="mcDown" type="text" /> Down payment (%)</p> | |
<p><input id="mcRate" class="mortgageField" name="mcRate" type="text" /> Interest Rate (%)</p> | |
<p><input id="mcTerm" class="mortgageField" name="mcTerm" type="text" /> Term (years)</p> | |
<button id="mortgageCalc" class="smallButton" onclick="return false">Calculate Monthly Payment</button> | |
<br /> | |
<p><input id="mcPayment" class="mortgageAnswer" name="mcPayment" type="text" /> Monthly Payment</p> | |
<p><input id="mcInterestPayment" class="mortgageAnswer" name="mcInterestPayment" type="text" /> Initial Interest Payment</p> | |
</form> | |
<p> | |
<script type="text/javascript"><!-- | |
$("#mortgageCalc").click(function(){ | |
var L,P,n,c,dp; | |
L = parseInt($("#mcPrice").val()); | |
n = parseInt($("#mcTerm").val()) * 12; | |
c = parseFloat($("#mcRate").val())/1200; | |
dp = 1 - parseFloat($("#mcDown").val())/100; | |
L = L * dp; | |
P = (L*(c*Math.pow(1+c,n)))/(Math.pow(1+c,n)-1); | |
I = L*c; | |
if(!isNaN(I)) | |
$("#mcInterestPayment").val(I.toFixed(2)); | |
else | |
$("#mcInterestPayment").val('There was an error'); | |
if(!isNaN(P)) | |
$("#mcPayment").val(P.toFixed(2)); | |
else | |
$("#mcPayment").val('There was an error'); | |
return false; | |
}); | |
// --></script> | |
</p> |
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