Result
Enter the annual rate to see the monthly equivalent.
function calculateMonthlyRate() {
var annualRateInput = document.getElementById("annualRate");
var resultDiv = document.getElementById("result");
var annualRate = parseFloat(annualRateInput.value);
if (isNaN(annualRate)) {
resultDiv.innerHTML = "Please enter a valid number for the annual rate.";
return;
}
// The formula to convert an annual rate to a monthly rate is:
// Monthly Rate = (1 + Annual Rate)^(1/12) – 1
// This formula accounts for compounding effects.
var monthlyRate = Math.pow(1 + annualRate, 1/12) – 1;
if (isNaN(monthlyRate)) {
resultDiv.innerHTML = "Calculation error. Please check your input.";
return;
}
resultDiv.innerHTML = "The equivalent monthly rate is:
" + (monthlyRate * 100).toFixed(4) + "%";
}
.calculator-container {
font-family: sans-serif;
max-width: 600px;
margin: 20px auto;
padding: 20px;
border: 1px solid #ccc;
border-radius: 8px;
box-shadow: 0 2px 5px rgba(0,0,0,0.1);
background-color: #f9f9f9;
}
.calculator-inputs h2, .calculator-result h3 {
text-align: center;
color: #333;
}
.calculator-inputs p {
text-align: justify;
color: #555;
margin-bottom: 20px;
}
.input-group {
margin-bottom: 15px;
}
.input-group label {
display: block;
margin-bottom: 5px;
font-weight: bold;
color: #444;
}
.input-group input[type="text"] {
width: calc(100% – 22px);
padding: 10px;
border: 1px solid #ccc;
border-radius: 4px;
box-sizing: border-box;
}
.calculator-inputs button {
width: 100%;
padding: 10px 15px;
background-color: #007bff;
color: white;
border: none;
border-radius: 4px;
cursor: pointer;
font-size: 16px;
transition: background-color 0.3s ease;
}
.calculator-inputs button:hover {
background-color: #0056b3;
}
.calculator-result {
margin-top: 25px;
padding: 15px;
border-top: 1px solid #eee;
background-color: #fff;
border-radius: 4px;
}
.calculator-result p {
text-align: center;
font-size: 1.1em;
color: #333;
}
.calculator-result strong {
color: #007bff;
}