Enter the total number of months to repay the loan.
Your UTV Loan Details
Monthly Payment:$0.00
Loan Amount:$0.00
Total Interest Paid:$0.00
Total Repayment Cost:$0.00
How it's calculated:
The monthly UTV payment is calculated using the standard loan amortization formula:
M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]
Where:
M = Monthly Payment,
P = Principal Loan Amount (UTV Price – Down Payment),
i = Monthly Interest Rate (Annual Rate / 12),
n = Total Number of Payments (Loan Term in Months).
Loan Breakdown Over Time
Amortization Schedule
Month
Payment
Principal Paid
Interest Paid
Balance Remaining
Enter loan details to see the schedule.
What is a UTV Payment Calculator?
A UTV payment calculator is a specialized financial tool designed to estimate the monthly payments and overall cost associated with financing a Utility Terrain Vehicle (UTV). Whether you're looking to purchase a new or used UTV for work, recreation, or off-road adventures, understanding the financing implications is crucial. This calculator helps potential buyers by taking key financial inputs – such as the UTV's price, your down payment, the loan's interest rate, and the repayment term – and projecting how much you'll likely pay each month, along with the total interest accumulated over the life of the loan. It's an indispensable tool for budgeting and making informed purchasing decisions in the powersports market.
Who Should Use a UTV Payment Calculator?
Anyone considering financing a UTV should utilize this calculator. This includes:
Recreational Riders: Individuals buying a UTV for trails, hunting, or weekend adventures.
Agricultural and Ranch Owners: Professionals needing a UTV for farm work, hauling, and property management.
Construction and Utility Workers: Businesses or individuals using UTVs for job sites or maintenance tasks.
Budget-Conscious Buyers: Anyone wanting to understand affordability and manage their finances effectively before committing to a loan.
Comparison Shoppers: Buyers comparing different financing offers or UTV models to find the best deal.
Common Misconceptions about UTV Financing
One common misconception is that all UTV loans are the same. In reality, interest rates, loan terms, and fees can vary significantly between lenders. Another misconception is focusing solely on the monthly payment without considering the total cost of the loan. Our UTV payment calculator helps to dispel these myths by providing a comprehensive view of the financial commitment, including total interest paid over time. It's vital to remember that the advertised price of a UTV is rarely the final price you pay when financing is involved.
UTV Payment Calculator Formula and Mathematical Explanation
The core of the UTV payment calculator relies on the standard annuity formula for calculating loan payments. This formula determines the fixed periodic payment required to fully amortize a loan over a specified period.
Step-by-Step Derivation
The formula for calculating the monthly payment (M) of a loan is derived from the present value of an ordinary annuity formula. Here's how it breaks down:
Determine the Principal Loan Amount (P): This is the total cost of the UTV minus any down payment made. P = UTV Price - Down Payment
Calculate the Monthly Interest Rate (i): The annual interest rate is divided by 12 to get the rate applied each month. i = Annual Interest Rate / 12 / 100 (The '/ 100' converts percentage to decimal).
Determine the Total Number of Payments (n): This is the loan term in months. n = Loan Term in Months
Apply the Loan Payment Formula: Substitute these values into the formula:
M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]
Interpretation: Sarah can expect to pay around $373 per month for her new UTV over four years. While the total interest is almost $2,900, this fits within her budget for recreational use.
Example 2: Heavy-Duty Work UTV
Mark needs a robust UTV for his ranch operations. He's considering a higher-end model priced at $35,000 and can put down $8,000.
Interpretation: Mark's loan amount is significantly higher, but the longer 72-month term keeps his monthly payments manageable at approximately $435. The extended term results in more total interest paid compared to Sarah's loan, but it allows him to acquire the necessary equipment for his business while managing cash flow. This highlights the trade-off between monthly cost and total interest when choosing a loan term.
How to Use This UTV Payment Calculator
Using our UTV payment calculator is straightforward. Follow these simple steps to get your estimated loan payments:
Step-by-Step Instructions
Enter UTV Price: Input the total purchase price of the UTV you are interested in.
Enter Down Payment: Specify the amount of money you plan to pay upfront. This reduces the amount you need to finance.
Enter Annual Interest Rate: Provide the interest rate offered by the lender. Ensure it's the annual percentage rate (APR).
Enter Loan Term: Input the duration of the loan in months (e.g., 36, 48, 60, 72 months).
Click 'Calculate': Once all fields are filled, click the "Calculate" button.
How to Interpret Results
The calculator will display several key figures:
Monthly Payment: This is the estimated amount you'll need to pay each month to service the loan. This is the most crucial number for your monthly budgeting.
Loan Amount: This shows the principal amount you are borrowing after your down payment.
Total Interest Paid: This figure represents the total amount of interest you will pay over the entire loan term. A higher interest rate or longer term will increase this amount.
Total Repayment Cost: This is the sum of the loan amount and the total interest paid, representing the overall cost of the UTV through financing.
Amortization Schedule & Chart: These provide a detailed breakdown of how each payment is allocated between principal and interest, and how the loan balance decreases over time.
Decision-Making Guidance
Use the results to determine if the UTV financing fits your budget. Compare the monthly payment against your disposable income. Consider the total interest paid – a lower total interest amount is always better. If the payments seem too high, you might consider:
Making a larger down payment.
Looking for a UTV with a lower purchase price.
Seeking a loan with a lower interest rate (shop around!).
Extending the loan term (though this usually increases total interest).
The UTV payment calculator empowers you with the data needed to make a financially sound decision.
Key Factors That Affect UTV Payment Results
Several factors significantly influence the monthly payments and total cost calculated by a UTV payment calculator. Understanding these is crucial for accurate financial planning:
UTV Purchase Price: The most direct influence. A higher UTV price naturally leads to a larger loan amount and, consequently, higher monthly payments and total interest, assuming other factors remain constant. Buyers often negotiate this price before applying for financing.
Down Payment Amount: A larger down payment directly reduces the principal loan amount (P). This results in lower monthly payments and significantly less total interest paid over the loan's life. It can also help secure better interest rates.
Annual Interest Rate (APR): This is perhaps the most critical factor after the principal. Even small differences in the interest rate can lead to substantial changes in monthly payments and the total interest paid, especially over longer loan terms. Lenders base APR on creditworthiness, market conditions, and loan specifics.
Loan Term (Months): A longer loan term means lower monthly payments because the principal is spread over more periods. However, this comes at the cost of paying more interest overall. Conversely, a shorter term increases monthly payments but reduces the total interest paid. Loan term calculators can help explore this trade-off.
Fees and Additional Charges: While not always explicitly included in basic calculators, origination fees, documentation fees, taxes, and potential extended warranties add to the overall cost of acquiring the UTV. These should be factored into your total budget.
Credit Score: Your credit score heavily influences the interest rate (APR) you'll be offered. A higher credit score typically qualifies you for lower rates, reducing both your monthly payments and the total interest paid. A poor credit score might result in higher rates or difficulty obtaining financing at all.
Market Conditions and Lender Policies: Interest rates fluctuate based on economic factors. Lenders also have specific policies regarding loan-to-value ratios, minimum credit scores, and maximum loan terms for powersports vehicles, all of which impact financing availability and cost.
Taxes and Registration Costs: Sales tax on the UTV purchase and ongoing registration fees are not part of the loan payment itself but are essential costs associated with ownership that buyers must budget for.
Our UTV payment calculator is a powerful tool, but remember to consider these surrounding financial elements for a complete picture.
Frequently Asked Questions (FAQ)
Q1: What is the minimum down payment required for a UTV loan?
A: Minimum down payment requirements vary by lender and your creditworthiness. Some lenders may offer 0% down payment options, especially for buyers with excellent credit, while others might require 10-20% or more. Use the calculator with $0 down to see the maximum possible payment.
Q2: Can I pay off my UTV loan early without penalty?
A: Many UTV loans are structured without prepayment penalties, especially those from credit unions or banks. However, it's crucial to check your loan agreement. If there are no penalties, you can pay extra towards the principal to pay off the loan faster and save on interest. Use our loan payoff calculator to see the impact.
Q3: How does my credit score affect my UTV loan payments?
A: Your credit score is a primary determinant of the interest rate you'll receive. A higher score generally means a lower APR, resulting in lower monthly payments and less total interest paid. A lower score may lead to higher rates or loan denial.
Q4: What's the difference between the total interest paid and the total repayment cost?
A: The 'Total Interest Paid' is just the sum of all interest charges over the loan term. The 'Total Repayment Cost' includes both the original loan amount (principal) and all the interest paid. It represents the absolute total you'll spend to finance the UTV.
Q5: Can I use the UTV payment calculator for used UTVs?
A: Yes, absolutely! The calculator works for both new and used UTVs. Just ensure you input the correct purchase price for the specific used UTV you are considering.
Q6: Does the calculator include taxes and fees?
A: Our basic UTV payment calculator focuses on the loan principal, interest rate, and term. It does not automatically include sales tax, registration fees, or dealer fees. You should factor these additional costs into your overall budget separately.
Q7: What does an amortization schedule show?
A: The amortization schedule breaks down each monthly payment, showing how much goes towards the principal and how much goes towards interest. It also tracks the remaining loan balance after each payment, demonstrating how your loan is paid down over time.
Q8: Should I choose a shorter or longer loan term?
A: It's a trade-off. A shorter term means higher monthly payments but less total interest paid. A longer term means lower monthly payments but more total interest paid. The best choice depends on your budget and financial goals. Use the calculator to compare scenarios.
Related Tools and Internal Resources
Auto Loan Calculator – Estimate payments for any vehicle loan, including cars, trucks, and motorcycles.
UTV Lease Calculator – Compare leasing vs. buying and estimate monthly costs for a UTV lease.
Budget Planner Tool – Organize your income and expenses to see how a UTV payment fits into your overall financial picture.
Powersports Financing Guide – Learn essential tips for securing the best financing for your UTV or other recreational vehicles.
UTV Buying Guide – Get expert advice on choosing the right UTV model for your needs and budget.
Loan Payoff Calculator – Determine how much faster you can pay off your UTV loan by making extra payments.
var chartInstance = null;
function calculatePayment() {
// Get input values
var utvPrice = parseFloat(document.getElementById("utvPrice").value);
var downPayment = parseFloat(document.getElementById("downPayment").value);
var interestRate = parseFloat(document.getElementById("interestRate").value);
var loanTerm = parseInt(document.getElementById("loanTerm").value);
// Clear previous error messages
clearErrorMessages();
// Validate inputs
var isValid = true;
if (isNaN(utvPrice) || utvPrice <= 0) {
displayError("utvPriceError", "Please enter a valid UTV price.");
isValid = false;
}
if (isNaN(downPayment) || downPayment < 0) {
displayError("downPaymentError", "Please enter a valid down payment (cannot be negative).");
isValid = false;
}
if (isNaN(interestRate) || interestRate <= 0) {
displayError("interestRateError", "Please enter a valid annual interest rate.");
isValid = false;
}
if (isNaN(loanTerm) || loanTerm utvPrice) {
displayError("downPaymentError", "Down payment cannot exceed UTV price.");
isValid = false;
}
if (!isValid) {
// Reset results if validation fails
document.getElementById("monthlyPayment").textContent = "$0.00";
document.getElementById("loanAmountDisplay").textContent = "$0.00";
document.getElementById("totalInterestDisplay").textContent = "$0.00";
document.getElementById("totalRepaymentDisplay").textContent = "$0.00";
document.getElementById("amortizationTableBody").innerHTML = '
Enter loan details to see the schedule.
';
if (chartInstance) {
chartInstance.destroy();
chartInstance = null;
}
return;
}
// Calculate loan amount
var loanAmount = utvPrice – downPayment;
document.getElementById("loanAmountDisplay").textContent = formatCurrency(loanAmount);
// Calculate monthly interest rate and number of payments
var monthlyInterestRate = interestRate / 100 / 12;
var numberOfPayments = loanTerm;
// Calculate monthly payment using the loan amortization formula
var monthlyPayment = 0;
if (monthlyInterestRate > 0) {
monthlyPayment = loanAmount * (monthlyInterestRate * Math.pow(1 + monthlyInterestRate, numberOfPayments)) / (Math.pow(1 + monthlyInterestRate, numberOfPayments) – 1);
} else {
monthlyPayment = loanAmount / numberOfPayments; // Simple division if interest rate is 0
}
// Ensure monthly payment is not NaN or infinite
if (isNaN(monthlyPayment) || !isFinite(monthlyPayment)) {
monthlyPayment = 0;
}
document.getElementById("monthlyPayment").textContent = formatCurrency(monthlyPayment);
// Calculate total interest and total repayment
var totalInterest = (monthlyPayment * numberOfPayments) – loanAmount;
var totalRepayment = monthlyPayment * numberOfPayments;
// Ensure calculations are not negative due to floating point issues
totalInterest = Math.max(0, totalInterest);
totalRepayment = Math.max(loanAmount, totalRepayment);
document.getElementById("totalInterestDisplay").textContent = formatCurrency(totalInterest);
document.getElementById("totalRepaymentDisplay").textContent = formatCurrency(totalRepayment);
// Generate amortization table and chart
generateAmortizationTable(loanAmount, monthlyInterestRate, monthlyPayment, numberOfPayments);
updateChart(loanAmount, monthlyPayment, totalInterest, numberOfPayments);
}
function generateAmortizationTable(principal, monthlyRate, monthlyPayment, terms) {
var tableBody = document.getElementById("amortizationTableBody");
tableBody.innerHTML = ""; // Clear previous table rows
var balance = principal;
var totalInterestPaidOverall = 0;
var totalPrincipalPaidOverall = 0;
for (var i = 1; i <= terms; i++) {
var interestPayment = balance * monthlyRate;
var principalPayment = monthlyPayment – interestPayment;
// Adjust last payment to ensure balance reaches exactly zero
if (i === terms) {
principalPayment = balance;
monthlyPayment = interestPayment + principalPayment; // Recalculate final payment
}
// Prevent negative principal payment due to floating point errors
if (principalPayment < 0) principalPayment = 0;
if (interestPayment < 0) interestPayment = 0;
balance -= principalPayment;
// Prevent balance from going slightly negative due to floating point inaccuracies
if (balance < 0.01) balance = 0;
totalInterestPaidOverall += interestPayment;
totalPrincipalPaidOverall += principalPayment;
var row = tableBody.insertRow();
row.insertCell(0).textContent = i;
row.insertCell(1).textContent = formatCurrency(monthlyPayment);
row.insertCell(2).textContent = formatCurrency(principalPayment);
row.insertCell(3).textContent = formatCurrency(interestPayment);
row.insertCell(4).textContent = formatCurrency(balance);
}
// Update total interest display if it differs significantly due to adjustments
var finalTotalInterest = totalInterestPaidOverall;
var finalTotalRepayment = principal + finalTotalInterest;
document.getElementById("totalInterestDisplay").textContent = formatCurrency(finalTotalInterest);
document.getElementById("totalRepaymentDisplay").textContent = formatCurrency(finalTotalRepayment);
}
function updateChart(loanAmount, monthlyPayment, totalInterest, terms) {
var ctx = document.getElementById('loanChart').getContext('2d');
// Destroy previous chart instance if it exists
if (chartInstance) {
chartInstance.destroy();
}
// Prepare data for the chart
var principalData = [];
var interestData = [];
var labels = [];
var balance = loanAmount;
var monthlyInterestRate = parseFloat(document.getElementById("interestRate").value) / 100 / 12;
var principalPaidTotal = 0;
var interestPaidTotal = 0;
for (var i = 1; i <= terms; i++) {
labels.push(i.toString());
var interestPayment = balance * monthlyInterestRate;
var principalPayment = monthlyPayment – interestPayment;
// Adjust last payment for accuracy
if (i === terms) {
principalPayment = balance;
interestPayment = monthlyPayment – principalPayment; // Ensure interest is correct for final payment
}
// Handle potential floating point issues leading to negative values
principalPayment = Math.max(0, principalPayment);
interestPayment = Math.max(0, interestPayment);
balance -= principalPayment;
if (balance maxDataPoints) {
var step = Math.ceil(labels.length / maxDataPoints);
labels = labels.filter(function(value, index) { return index % step === 0; });
principalData = principalData.filter(function(value, index) { return index % step === 0; });
interestData = interestData.filter(function(value, index) { return index % step === 0; });
}
chartInstance = new Chart(ctx, {
type: 'bar', // Changed to bar for better visualization of monthly allocation
data: {
labels: labels,
datasets: [
{
label: 'Principal Paid',
data: principalData,
backgroundColor: 'rgba(0, 74, 153, 0.6)', // Primary color variation
borderColor: 'rgba(0, 74, 153, 1)',
borderWidth: 1
},
{
label: 'Interest Paid',
data: interestData,
backgroundColor: 'rgba(40, 167, 69, 0.6)', // Success color variation
borderColor: 'rgba(40, 167, 69, 1)',
borderWidth: 1
}
]
},
options: {
responsive: true,
maintainAspectRatio: false,
scales: {
x: {
stacked: true,
title: {
display: true,
text: 'Month'
}
},
y: {
stacked: true,
beginAtZero: true,
title: {
display: true,
text: 'Amount ($)'
},
ticks: {
callback: function(value) {
return formatCurrency(value, true);
}
}
}
},
plugins: {
tooltip: {
callbacks: {
label: function(context) {
var label = context.dataset.label || ";
if (label) {
label += ': ';
}
if (context.parsed.y !== null) {
label += formatCurrency(context.parsed.y, true);
}
return label;
}
}
}
}
}
});
}
function formatCurrency(amount, isTick = false) {
if (isNaN(amount) || !isFinite(amount)) {
return "$0.00";
}
var formatter = new Intl.NumberFormat('en-US', {
style: 'currency',
currency: 'USD',
minimumFractionDigits: 2,
maximumFractionDigits: 2
});
return formatter.format(amount);
}
function formatNumber(num) {
if (isNaN(num) || !isFinite(num)) {
return "";
}
return num.toString();
}
function displayError(elementId, message) {
var errorElement = document.getElementById(elementId);
errorElement.textContent = message;
errorElement.style.display = "block";
}
function clearErrorMessages() {
var errorElements = document.querySelectorAll('.error-message');
for (var i = 0; i < errorElements.length; i++) {
errorElements[i].textContent = "";
errorElements[i].style.display = "none";
}
}
function resetCalculator() {
document.getElementById("utvPrice").value = "";
document.getElementById("downPayment").value = "";
document.getElementById("interestRate").value = "";
document.getElementById("loanTerm").value = "";
document.getElementById("monthlyPayment").textContent = "$0.00";
document.getElementById("loanAmountDisplay").textContent = "$0.00";
document.getElementById("totalInterestDisplay").textContent = "$0.00";
document.getElementById("totalRepaymentDisplay").textContent = "$0.00";
document.getElementById("amortizationTableBody").innerHTML = '
Enter loan details to see the schedule.
';
if (chartInstance) {
chartInstance.destroy();
chartInstance = null;
}
clearErrorMessages();
}
function copyResults() {
var monthlyPayment = document.getElementById("monthlyPayment").textContent;
var loanAmount = document.getElementById("loanAmountDisplay").textContent;
var totalInterest = document.getElementById("totalInterestDisplay").textContent;
var totalRepayment = document.getElementById("totalRepaymentDisplay").textContent;
var summary = "UTV Loan Payment Calculation:\n";
summary += "——————————\n";
summary += "Estimated Monthly Payment: " + monthlyPayment + "\n";
summary += "Loan Amount: " + loanAmount + "\n";
summary += "Total Interest Paid: " + totalInterest + "\n";
summary += "Total Repayment Cost: " + totalRepayment + "\n";
// Use a temporary textarea to copy text to clipboard
var textArea = document.createElement("textarea");
textArea.value = summary;
textArea.style.position = "fixed"; // Avoid scrolling to bottom of page in MS Edge.
textArea.style.top = "0";
textArea.style.left = "0";
document.body.appendChild(textArea);
try {
textArea.focus();
textArea.select();
document.execCommand('copy');
alert('Results copied to clipboard!');
} catch (err) {
console.error('Failed to copy text: ', err);
alert('Failed to copy results. Please copy manually.');
} finally {
document.body.removeChild(textArea);
}
}
// Add Chart.js dependency (assuming it's available globally or needs to be included)
// For a self-contained file, you might need to embed Chart.js or use SVG/Canvas directly.
// Using Chart.js here for ease of demonstration, but a pure JS solution would be preferred per requirements.
// NOTE: For a truly self-contained HTML file without external JS, the chart logic would need to be
// implemented using native Canvas API drawing or SVG manipulation. The current implementation assumes Chart.js is available.
// If Chart.js is NOT available, this part would fail. For production, embed Chart.js or use native drawing.
// Since the prompt says NO external libraries, I'll use native Canvas drawing logic IF Chart.js is not assumed.
// Given the prompt's strictness, let's assume Chart.js dependency is NOT allowed and rewrite chart logic.
// — REWRITING CHART LOGIC TO USE NATIVE CANVAS —
function updateChart(loanAmount, monthlyPayment, totalInterest, terms) {
var canvas = document.getElementById('loanChart');
var ctx = canvas.getContext('2d');
// Clear previous drawing
ctx.clearRect(0, 0, canvas.width, canvas.height);
// Dynamically set canvas size based on parent container
var chartContainer = document.getElementById('chartContainer');
canvas.width = chartContainer.clientWidth * 0.9; // Use 90% of container width
canvas.height = 300; // Fixed height, or make dynamic
if (loanAmount <= 0 || terms <= 0 || monthlyPayment <= 0) {
ctx.font = "16px Arial";
ctx.fillStyle = "#6c757d";
ctx.textAlign = "center";
ctx.fillText("Enter valid loan details to see the chart.", canvas.width / 2, canvas.height / 2);
return;
}
var monthlyRate = parseFloat(document.getElementById("interestRate").value) / 100 / 12;
var balance = loanAmount;
var principalPaidTotal = 0;
var interestPaidTotal = 0;
var chartData = [];
var maxChartHeight = canvas.height – 60; // Leave space for labels and title
// Determine the maximum value for scaling (highest monthly principal or interest)
var maxMonthlyAmount = 0;
var tempBalance = loanAmount;
for (var i = 1; i <= terms; i++) {
var interestPayment = tempBalance * monthlyRate;
var principalPayment = monthlyPayment – interestPayment;
if (i === terms) {
principalPayment = tempBalance;
interestPayment = monthlyPayment – principalPayment;
}
principalPayment = Math.max(0, principalPayment);
interestPayment = Math.max(0, interestPayment);
tempBalance -= principalPayment;
if (tempBalance maxMonthlyAmount) {
maxMonthlyAmount = currentMax;
}
}
// Ensure maxMonthlyAmount is not zero if calculations result in zero
if (maxMonthlyAmount === 0) maxMonthlyAmount = 1;
// Limit data points for performance and readability
var maxDataPoints = 60;
var step = Math.ceil(terms / maxDataPoints);
var visibleTerms = [];
var visiblePrincipalData = [];
var visibleInterestData = [];
for (var i = 1; i <= terms; i++) {
var interestPayment = balance * monthlyRate;
var principalPayment = monthlyPayment – interestPayment;
if (i === terms) {
principalPayment = balance;
interestPayment = monthlyPayment – principalPayment;
}
principalPayment = Math.max(0, principalPayment);
interestPayment = Math.max(0, interestPayment);
balance -= principalPayment;
if (balance < 0.01) balance = 0;
if (i % step === 0 || i === terms) {
visibleTerms.push(i);
visiblePrincipalData.push(principalPayment);
visibleInterestData.push(interestPayment);
}
}
// Draw X-axis labels
ctx.font = "12px Arial";
ctx.fillStyle = "#333";
ctx.textAlign = "center";
var xAxisY = canvas.height – 30;
var barWidth = (canvas.width – 80) / visibleTerms.length * 0.8; // Calculate bar width based on visible terms
var gapWidth = (canvas.width – 80) / visibleTerms.length * 0.2;
for (var i = 0; i < visibleTerms.length; i++) {
var xPos = 40 + (barWidth + gapWidth) * i + barWidth / 2;
ctx.fillText(visibleTerms[i], xPos, xAxisY + 15);
// Draw bars for Principal
var principalHeight = (visiblePrincipalData[i] / maxMonthlyAmount) * maxChartHeight;
ctx.fillStyle = 'rgba(0, 74, 153, 0.6)';
ctx.fillRect(40 + (barWidth + gapWidth) * i, xAxisY – principalHeight, barWidth, principalHeight);
// Draw bars for Interest (stacked on top of principal)
var interestHeight = (visibleInterestData[i] / maxMonthlyAmount) * maxChartHeight;
ctx.fillStyle = 'rgba(40, 167, 69, 0.6)';
ctx.fillRect(40 + (barWidth + gapWidth) * i, xAxisY – principalHeight – interestHeight, barWidth, interestHeight);
}
// Draw Y-axis and labels
ctx.beginPath();
ctx.moveTo(30, canvas.height – 30);
ctx.lineTo(30, 30);
ctx.lineTo(canvas.width – 10, 30);
ctx.strokeStyle = "#ccc";
ctx.stroke();
// Draw Y-axis Title
ctx.save();
ctx.font = "bold 14px Arial";
ctx.fillStyle = "#003366";
ctx.textAlign = "center";
ctx.translate(15, canvas.height / 2);
ctx.rotate(-90 * Math.PI / 180);
ctx.fillText("Amount ($)", 0, 0);
ctx.restore();
// Draw some Y-axis ticks and values
var tickCount = 5;
for (var i = 0; i < tickCount; i++) {
var yPos = xAxisY – (maxChartHeight / (tickCount – 1)) * i;
var value = Math.round((maxMonthlyAmount / (tickCount – 1)) * i);
ctx.fillText(formatCurrency(value, true), 25, yPos + 5);
ctx.beginPath();
ctx.moveTo(25, yPos);
ctx.lineTo(30, yPos);
ctx.strokeStyle = "#ccc";
ctx.stroke();
}
// Add a legend
var legendY = 10;
ctx.font = "14px Arial";
ctx.textAlign = "left";
// Principal Legend
ctx.fillStyle = 'rgba(0, 74, 153, 0.6)';
ctx.fillRect(40, legendY, 20, 10);
ctx.fillStyle = "#333";
ctx.fillText('Principal Paid', 70, legendY + 10);
// Interest Legend
ctx.fillStyle = 'rgba(40, 167, 69, 0.6)';
ctx.fillRect(180, legendY, 20, 10);
ctx.fillStyle = "#333";
ctx.fillText('Interest Paid', 210, legendY + 10);
}
// Initial call to set default/placeholder values or calculate if inputs are pre-filled
document.addEventListener('DOMContentLoaded', function() {
calculatePayment();
});