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<head><script Language='JavaScript'>
//*******************************************
//DO NOT REMOVE THIS COPYWRITE INFO!
//APR Calculator
//2007 Daniel C. Peterson ALL RIGHTS RESERVED
//Created: 08/11/2007
//Last Modified: 11/13/2009
//This script may not be copied, edited, distributed or reproduced
//without express written permission from
//Daniel C. Peterson of Web Winder Website Services
//For commercial use rates, contact:
//Dan Peterson:
//Web Winder Website Services
//P.O. Box 11
//Bemidji, MN  56619
//dan@webwinder.com
//http://www.webwinder.com
//Commercial User Licence #:7579-1662-148-1580
//Commercial Licence Date:2013-07-13
//*******************************************



function computeMonthlyPayment(prin, numPmts, intRate) {

var pmtAmt = 0;

if(intRate == 0) {
   pmtAmt = prin / numPmts;
} else {
     intRate = intRate / 100.0 / 12;

   var pow = 1;
   for (var j = 0; j < numPmts; j++)
      pow = pow * (1 + intRate);

   pmtAmt = (prin * pow * intRate) / (pow - 1);

}

return pmtAmt;

}




function computeIntRate(myNumPmts, myPrin, myPmtAmt, myGuess) {

var myDecRate = 0;

if(myGuess.length == 0 || myGuess == 0) {
   var myDecGuess = 10;
   } else {
   var myDecGuess = myGuess;
   if(myDecGuess >= 1) {
      myDecGuess = myDecGuess /100;
      }
   }

var myDecRate = myDecGuess / 12;
var myNewPmtAmt = 0;
var pow = 1;
var j = 0;

for (j = 0; j < myNumPmts; j++) {
   pow = pow * (eval(1) + eval(myDecRate));
}

myNewPmtAmt = (myPrin * pow * myDecRate) / (pow - 1);

//2 DEC PLACE AMOUNT
var decPlace2Rate = (eval(myDecGuess) + eval(.01)) / 12;
var decPlace2Amt = 0;
pow = 1;
j=0;
for (j = 0; j < myNumPmts; j++) {
   pow = pow * (eval(1) + eval(decPlace2Rate));
}
var decPlace2PmtAmt = (myPrin * pow * decPlace2Rate) / (pow - 1);
decPlace2Amt = eval(decPlace2PmtAmt) - eval(myNewPmtAmt);

//3 DEC PLACE AMOUNT
var decPlace3Rate = (eval(myDecGuess) + eval(.001)) / 12;
var decPlace3Amt = 0;
pow = 1;
j=0;
for (j = 0; j < myNumPmts; j++) {
   pow = pow * (eval(1) + eval(decPlace3Rate));
}
var decPlace3PmtAmt = (myPrin * pow * decPlace3Rate) / (pow - 1);
decPlace3Amt = eval(decPlace3PmtAmt) - eval(myNewPmtAmt);

//4 DEC PLACE AMOUNT
var decPlace4Rate = (eval(myDecGuess) + eval(.0001)) / 12;
var decPlace4Amt = 0;
pow = 1;
j=0;
for (j = 0; j < myNumPmts; j++) {
   pow = pow * (eval(1) + eval(decPlace4Rate));
}
var decPlace4PmtAmt = (myPrin * pow * decPlace4Rate) / (pow - 1);
decPlace4Amt = eval(decPlace4PmtAmt) - eval(myNewPmtAmt);

//5 DEC PLACE AMOUNT
var decPlace5Rate = (eval(myDecGuess) + eval(.00001)) / 12;
var decPlace5Amt = 0;
pow = 1;
j=0;
for (j = 0; j < myNumPmts; j++) {
   pow = pow * (eval(1) + eval(decPlace5Rate));
}
var decPlace5PmtAmt = (myPrin * pow * decPlace5Rate) / (pow - 1);
decPlace5Amt = eval(decPlace5PmtAmt) - eval(myNewPmtAmt);

var myPmtDiff = 0;

if(myNewPmtAmt < myPmtAmt) {

   while(myNewPmtAmt < myPmtAmt) {

      myPmtDiff = eval(myPmtAmt) - eval(myNewPmtAmt);
      if(myPmtDiff > decPlace2Amt) {
         myDecRate = eval(myDecRate) + eval(.01 / 12);
      } else
      if(myPmtDiff > decPlace3Amt) {
         myDecRate = eval(myDecRate) + eval(.001 / 12);
      } else
      if(myPmtDiff > decPlace4Amt) {
         myDecRate = eval(myDecRate) + eval(.0001 / 12);
      } else
      if(myPmtDiff > decPlace5Amt) {
         myDecRate = eval(myDecRate) + eval(.00001 / 12);
      } else {
         myDecRate = eval(myDecRate) + eval(.000001 / 12);
      }

      pow = 1
      j = 0;
      
      for (j = 0; j < myNumPmts; j++) {
         pow = pow * (eval(1) + eval(myDecRate));
      }
      myNewPmtAmt = (myPrin * pow * myDecRate) / (pow - 1);
   }

} else {


   while(myNewPmtAmt > myPmtAmt) {

      myPmtDiff = eval(myNewPmtAmt) - eval(myPmtAmt);
      if(myPmtDiff > decPlace2Amt) {
         myDecRate = eval(myDecRate) - eval(.01 / 12);
      } else
      if(myPmtDiff > decPlace3Amt) {
         myDecRate = eval(myDecRate) - eval(.001 / 12);
      } else
      if(myPmtDiff > decPlace4Amt) {
         myDecRate = eval(myDecRate) - eval(.0001 / 12);
      } else
      if(myPmtDiff > decPlace5Amt) {
         myDecRate = eval(myDecRate) - eval(.00001 / 12);
      } else {
         myDecRate = eval(myDecRate) - eval(.000001 / 12);
      }

      pow = 1
      j = 0;
      
      for (j = 0; j < myNumPmts; j++) {
         pow = pow * (eval(1) + eval(myDecRate));
      }
      myNewPmtAmt = (myPrin * pow * myDecRate) / (pow - 1);
   }


}

myDecRate = myDecRate * 12 * 100;

return myDecRate;

}



function sn(num) {

   num=num.toString();


   var len = num.length;
   var rnum = "";
   var test = "";
   var j = 0;

   var b = num.substring(0,1);
   if(b == "-") {
      rnum = "-";
   }

   for(i = 0; i <= len; i++) {

      b = num.substring(i,i+1);

      if(b == "0" || b == "1" || b == "2" || b == "3" || b == "4" || b == "5" || b == "6" || b == "7" || b == "8" || b == "9" || b == ".") {
         rnum = rnum + "" + b;

      }

   }

   if(rnum == "" || rnum == "-") {
      rnum = 0;
   }

   rnum = Number(rnum);

   return rnum;

}



function fns(num, places, comma, type, show) {

    var sym_1 = "$";
    var sym_2 = ""; 

    var isNeg=0;

    if(num < 0) {
       num=num*-1;
       isNeg=1;
    }

    var myDecFact = 1;
    var myPlaces = 0;
    var myZeros = "";
    while(myPlaces < places) {
       myDecFact = myDecFact * 10;
       myPlaces = Number(myPlaces) + Number(1);
       myZeros = myZeros + "0";
    }
    
	onum=Math.round(num*myDecFact)/myDecFact;
		
	integer=Math.floor(onum);

	if (Math.ceil(onum) == integer) {
		decimal=myZeros;
	} else{
		decimal=Math.round((onum-integer)* myDecFact)
	}
	decimal=decimal.toString();
	if (decimal.length<places) {
        fillZeroes = places - decimal.length;
	   for (z=0;z<fillZeroes;z++) {
        decimal="0"+decimal;
        }
     }

   if(places > 0) {
      decimal = "." + decimal;
   }

   if(comma == 1) {
	integer=integer.toString();
	var tmpnum="";
	var tmpinteger="";
	var y=0;

	for (x=integer.length;x>0;x--) {
		tmpnum=tmpnum+integer.charAt(x-1);
		y=y+1;
		if (y==3 & x>1) {
			tmpnum=tmpnum+",";
			y=0;
		}
	}

	for (x=tmpnum.length;x>0;x--) {
		tmpinteger=tmpinteger+tmpnum.charAt(x-1);
	}


	finNum=tmpinteger+""+decimal;
   } else {
      finNum=integer+""+decimal;
   }

    if(isNeg == 1) {
       if(type == 1 && show == 1) {
          finNum = "-" + sym_1 + "" + finNum + "" + sym_2;
       } else {
          finNum = "-" + finNum;
       }
    } else {
       if(show == 1) {
          if(type == 1) {
             finNum = sym_1 + "" + finNum + "" + sym_2;
          } else
          if(type == 2) {
             finNum = finNum + "%";
          }

       }

    }

	return finNum;
}


function computeAPR(form) {

   var v_principal = sn(document.calc.principal.value);
   var v_intRate = sn(document.calc.intRate.value);
   var v_numYears = sn(document.calc.numYears.value);

   if(v_principal == 0) {
      alert("Please enter the mortgage's principal amount.");
      document.calc.principal.focus();
   } else
   if(v_intRate == 0) {
      alert("Please enter the mortgage's quoted interest rate.");
      document.calc.intRate.focus();
   } else
   if(v_numYears == 0) {
      alert("Please enter the mortgage's term in number of years.");
      document.calc.numYears.focus();
   } else {

      var v_numMonths = v_numYears * 12;
      var v_points = sn(document.calc.points.value);
      var v_other = sn(document.calc.other.value);

      var v_pi_pmt = computeMonthlyPayment(v_principal, v_numMonths, v_intRate);
      document.calc.pi_pmt.value = fns(v_pi_pmt,2,1,1,1);

      var v_point_perc = v_points;
      if(v_points >= 1) {
         v_point_perc = v_points /=100;
      }
      var v_point_cost = v_principal * v_point_perc;

      var v_upfront = Number(v_point_cost) + Number(v_other);
      document.calc.upfront.value = fns(v_upfront,2,1,1,1);
      
      var v_eff_loan_amt = Number(v_upfront) + Number(v_principal);
      document.calc.eff_loan_amt.value = fns(v_eff_loan_amt,2,1,1,1);

      var v_eff_pmt = computeMonthlyPayment(v_eff_loan_amt, v_numMonths, v_intRate);
      document.calc.eff_pmt.value = fns(v_eff_pmt,2,1,1,1);

      document.calc.act_loan_amt.value = fns(v_principal,2,1,1,1);

      var v_eff_apr = computeIntRate(v_numMonths, v_principal, v_eff_pmt, v_intRate);
      document.calc.eff_apr.value = fns(v_eff_apr,4,0,2,1);

   }

}


function clear_results(form) {

      document.calc.pi_pmt.value = "";
      document.calc.upfront.value = "";
      document.calc.eff_loan_amt.value = "";
      document.calc.eff_pmt.value = "";
      document.calc.act_loan_amt.value = "";
      document.calc.eff_apr.value = "";
}</script>

<meta content="text/html; charset=unicode" http-equiv="Content-Type" />
<title>Untitled 1</title>
<link href="../css/csstablestyle.css" rel="stylesheet" type="text/css" />

</head>

<body>
<form name="calc" method="post" action="#">

<table border='1' width='50%' cellpadding='4' cellspacing='0'  >
<tbody>

<tr> 
<td colspan="2" align="center">
<caption>APR Calculator</caption>
</tr>
<tr> 
<td colspan="2">
<font face='arial' size='2' color='#000000'>
This calculator will compute the effective interest rate of a mortgage when upfront loan costs are included.
<p>

</p>
</font> 
</td>
</tr>

<tr> 
<td> 
<font face='arial' size='2' color='#000000'>Mortgage loan amount:</font>
</td>
<td align="center"  >
<input type="text" name="principal" size="15" onKeyUp="clear_results(this.form)" />
</td>
</tr>

<tr> 
<td> 
<font face='arial' size='2' color='#000000'>Quoted interest rate (%):</font>
</td>
<td align="center"  >
<input type="text" name="intRate" size="15" onKeyUp="clear_results(this.form)" />
</td>
</tr>

<tr> 
<td> 
<font face='arial' size='2' color='#000000'>Mortgage loan term (# years):</font>
</td>
<td align="center"  >
<input type="text" name="numYears" size="15" onKeyUp="clear_results(this.form)" />
</td>
</tr>

<tr> 
<td> 
<font face='arial' size='2' color='#000000'>Points (%):</font>
</td>
<td align="center"  >
<input type="text" name="points" size="15" onKeyUp="clear_results(this.form)" />
</td>
</tr>

<tr> 
<td> 
<font face='arial' size='2' color='#000000'>Other closing costs to include:</font>
</td>
<td align="center"  >
<input type="text" name="other" size="15" onKeyUp="clear_results(this.form)" />
</td>
</tr>

<tr>
<td   colspan="2" align="center">
<input type="button" name="compute" value="Compute APR" onClick="computeAPR(this.form)" />
<input type="reset" value="Reset" />
</td>
</tr>

<tr> 
<td> 
<font face='arial' size='2' color='#000000'>Principal and interest payment:</font>
</td>
<td align="center"  >
<input type="text" name="pi_pmt" size="15" />
</td>
</tr>

<tr> 
<td> 
<font face='arial' size='2' color='#000000'>Total of points and other closing costs:</font>
</td>
<td align="center"  >
<input type="text" name="upfront" size="15" />
</td>
</tr>

<tr> 
<td> 
<font face='arial' size='2' color='#000000'>Effective loan amount:</font>
</td>
<td align="center"  >
<input type="text" name="eff_loan_amt" size="15" />
</td>
</tr>

<tr> 
<td> 
<font face='arial' size='2' color='#000000'>Monthly payment on effective loan amount:</font>
</td>
<td align="center"  >
<input type="text" name="eff_pmt" size="15" />
</td>
</tr>

<tr> 
<td> 
<font face='arial' size='2' color='#000000'>But loan amount is really only:</font>
</td>
<td align="center"  >
<input type="text" name="act_loan_amt" size="15" />
</td>
</tr>

<tr> 
<td> 
<font face='arial' size='2' color='#000000'>Therefore, the APR is really this amount:</font>
</td>
<td align="center"  >
<input type="text" name="eff_apr" size="15" />
</td>
</tr>



</tbody>
</table>
</form>
</body>

</html>