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Create a simple HTML web page and form for a auto loan calculator.

INSTRUCTIONS TO CANDIDATES
ANSWER ALL QUESTIONS

Purpose: Become familiar with JavaScript syntax, data types, and control structures.

Additionally, increase experience with basic HTML. Points: 100

Assignment:

Create a simple HTML web page and form for a auto loan calculator. The form should to read the amount to be borrowed, down payment, interest rate, and term (payback period) and calculate and display the loan information1 (monthly payment amount and total payments). A Javascript function should be used to read the data and calculate the loan information (payment amount and total payments).

Create an HTML form for the loan amount, interest rate, and loan term (in years), and a button to “calculate mortgage information”. The HTML file must include a JavaScript function to calculate the payment and total amount borrowed.

The HTML page should include the class, assignment, and your name. Refer to the example output for formatting illustration.

 

The JavaScript function must verify each input is a valid number. If input is not valid, display an appropriate error message. Additionally, ensure that the loan amount is less than or equal to $500,000.00, that the interest rate is between 0% and 15% (inclusive), and that the loan term is between 1 and 6 years. Refer to the example error message.

 

The payment amount can be calculated as follows:

 

(irate∗(1+ irate)term)

 payment  = amount ∗

 ((1+ irate)term

 −1.0)

The interest rate entered on the form is the annual rate. The irate is the monthly interest rate.

The payment amount and total cost should include fully formatted currency values (i.e.,

$xx,xxx.xx) – including $ sign and commas as appropriate. Refer to the example output.

 

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