Project StructureProject Structure
Steps to Create the Project:
Step 1: Set up React project using the command
npx create-react-app <<name of project>>
Step 2: Navigate to the project folder using
cd <<Name_of_project>>
Step 3: Create a folder called – “components” and add file named as MortgageCalculator.js along with its CSS file.
Mortgage Calculator using React
In this article, we will create a Mortgage Calculator using React, allowing users to estimate their monthly mortgage payments based on the loan amount, annual rate of interest, and loan term in years. The application provides instant feedback, displaying the calculated monthly payment, total payable amount, and total interest.
The application uses React’s useState hook to manage state variables for the principal amount, annual interest rate, loan term, monthly payment, total payable amount, total interest, and error handling. Users are prompted to input the necessary information, with real-time validation to ensure accurate calculations.