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IT 130 -- Project Proj4
Compute the Monthly Payment for a Loan

• IMPORTANT:
   
  
  1. Use an external style in a css file with a link tag in the document to set the fonts and colors for the page. 10 points.
      
  2. Use rgb color codes in the external css file to set the text and background colors. 10 points.
      
  3. Update your Proj3 index file to include a hyperlink to Proj4. 10 points.
      
  4. On your Project 4 page, include a link back to the index page.
      
  5. Submit a link to your Project 3 index page, your Project 4 page, and your external CSS style page. 10 points.
      
• Write an HTML page that includes a Javascript script that computes monthly interest payments for a home or car loan. Enter the inputs using text boxes.
   
  

  Inputs:	p = Loan amount (principal)
  	r  = Interest rate in percent
  	n = Number of years (duration of loan)
  Output:	m = Monthly payment

  
   
• Here is the formula:
   
  

  m

  =

  p r / 1200.0 1 – (1.0 + r / 1200.0) –12 n

  
   
• Use appropriate labels for inputs and outputs: let the user know what you are inputing and outputing.
   
• Use parseFloat to convert the inputs into numbers.
   
• Use a function (with a name like computeMonthlyPayment) that gets p, r and n from its textboxes, computes the monthly payment m and outputs m to its textbox.
   
• Use the following JavaScript formula for computing the monthly payment:
   
  m = (p * r / 1200.0) / (1 - Math.pow(1.0 + r / 1200.0, -12.0 * n));
   
• Insure that the monthly payment is rounded to two places behind the decimal point. Replace the JavaScript line
  

  document.frmMonthlyPayment.txtMonthlyPayment.value = m;
  

  with

  document.frmMonthlyPayment.txtMonthlyPayment.value = m.toFixed(2);
  

• Use the Temperature1 Example as a model.