Inspiration
Just a simple project with some people who've never coded before. Since we are students interested in finance we thought we'd start with a little loan calculator. We wanted to make it more advanced but this was as far as we could get for now.
What it does
This calculates a loan repayment, based on the principal, interest rate and months remaining. We intend to make this for amortized loans, like most home loans where we live so it wouldn't be suitable for credit card repayments.
How we built it
Built in JavaScript, and HTML+CSS styling.
Challenges we ran into
CSS confused me but Mark helped me out. We also had to experiment with a few different solutions in JavaScript as we both had different ideas but eventually compromised on something simpler than we wanted but the basic function worked.
Accomplishments that we're proud of
That we got to make something working even though it's simple and that my main contribution was the math, which is not something I'm known for.
What we learned
How to amortize loans (although we're still finalizing that part!), style in CSS, getting element IDs and showing an output.
What's next for Loan Calculator
First I want to see if I can fix the amortization, hopefully by the deadline. I want to add more options to adjust for repayment frequency, extra fees, handle different compounding & fee frequencies, and at some point show a chart of future repayments without needing "months remaining."
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