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Web Development
Empowering Smarter Loan DecisionsThrough Customization
With adjustable fields for loan amount, duration, and interest rate, our plugin enables users to personalize their loan estimates for better financial control.
Loan Calculator Plugin
Category
Web Development
Project Paradigm:
The Loan Calculator plugin enables users to quickly calculate their monthly payments based on loan amount, duration, and interest rate. The following case study explores its features and configuration to demonstrate its usability and effectiveness.
Dynamic Configuration Fields :-
1. Loan Amount:
- Starting Amount : 100
- End Amount : 100,000
- Default Amount : 100
2. Months:
- Starting End Month: : 1
- End Month : 36
- Default Month : 1
3. Interest %:
- Interest Values:
- Interest Value: 1
- Interest Value: 2
- Interest Value: 3
- Interest Value: 4
Actionable User Steps:
- Add or remove interest values dynamically.
- Save the configured values.
Example Use Case
Scenario:
A user wants to calculate a loan with the following parameters:
- Loan Amount : $10,000
- Loan Duration : 12 months
- Interest Rate : 3%
Steps:
- Enter Loan Amount between $100 and $100,000. Select the desired amount (e.g., $100,000).
- Enter Months between 1 and 36. Select the desired duration (e.g., 12 months).
- Select an Interest Rate from the provided values (e.g., 3%).
- Click on the "Calculate" button.
Result:
The plugin computes the monthly payment using the formula: Where:
- Loan Amount (e.g., $100,000)
- Monthly interest rate (e.g., )
- Number of months (e.g., 12)
The output is displayed instantly on the screen, providing users with accurate payment details.
Key Features
- Dynamic Range Sliders: Intuitive sliders for loan amount and duration selection.
- Customizable Interest Rates: Ability to add or remove interest values as needed.
- User-Friendly Interface: Clean and minimalistic design for seamless navigation.
- Instant Calculation:Immediate results upon input changes.
Conclusion
The Loan Calculator plugin simplifies financial planning by offering a straightforward way to estimate loan payments. By customizing fields like loan amount, duration, and interest rate, users can make informed decisions tailored to their financial goals.
