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timpamungkasudemy/loan.js

Created February 17, 2024 00:06
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loan.js
export function calculateMonthlyInstallment(loanAmount, tenureInMonths, annualInterestRate) {
let monthlyInterestRate = annualInterestRate / 12 / 100;
let monthlyPayment = loanAmount * monthlyInterestRate / (1 - Math.pow(1 + monthlyInterestRate, -tenureInMonths));
return Math.round(monthlyPayment * 100) / 100;
}
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