jQuery sliders calculator

Hi I want to create some sliders, what i need to do is to make a slider which has 3 options in it:

1. the am开发者_开发技巧ount the user wants to borrow (from 12,500 upto 100,000) - will display a value from where the selector is here

2. over how long (from five yrs upto 25yrs) - will display a value from where the selector is here

3. Estimate based on the values the monthly repayment.

i have looked at others on here but don't quite understand how they work logically so if anyone could help would be great.

I have added a quick image i made to dropbox: http://dl.dropbox.com/u/12506430/sliders.jpg

Demo here.

<h2>How much would you like to borrow?</h2>
<div id="amount"></div>

<h2>Over how long?</h2>
<div id="period"></div>

<h2>Result</h2>
Your monthly payment will be $<span id="monthly">204.86</span>


function update() {
    var amount = $('#amount').slider('value');
    var period = $('#period').slider('value');
    var monthly = (amount + amount * 0.03 * period) / (period * 12);
    $("#monthly").text(monthly.toFixed(2));

}

$("#amount").slider({
    value: 12500,
    min: 12500,
    max: 100000,
    step: 50,
    slide: function() {
        update();
    }
});

$("#period").slider({
    value: 5,
    min: 5,
    max: 25,
    step: 1,
    slide: function() {
        update();
    }
});