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I’m trying to figure out how I should go about doing this. I know how to do it on paper but I’m not sure which language I need to use, so I can make a payment calculator on my website. Here’s what I want to do,
I’d like to have it laid out so there is drop menus being interest rate, finance amount and term of loan and each menu has a few different options to select and each option would have a value that would be calculated with the next drop down to produce a final monthly or biweekly amount in 2 text fields.
[B]Payment Calculator
Interest Rate: (drop menu with different interest rates here)
Finance Amount: (drop menu with different finance amounts here)
Term of Loan: (drop menu with different terms here)
Monthly Payment: (text field with calculated monthly payment)
Bi-Weekly Payment: (text field with calculated bi-weekly payment)
Calculations example: for the option selected in the interest rate menu, for example 2%, it would be multiplied with the option selected in the finance amount menu, for example $10,000. So then $10,000 would be added with 200 and equal $10200 and then that amount would be divided by the term of loan, for example 5 years(60 months,120 weeks). Then the end result would produce the monthly amount, example $170, and the bi-weekly amount, example $85).
Is this possible with javascript? If so, is there a tutorial someone may no of that would be helpful to me or if anyone has done this before how did you do it. I know how to set up the drop menus and titles and text fields on a page in html but not sure how to give each option in the drop menus a value and how to make them calculate the end result. Thanks for your time!