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- balance = 4213
- annualInterestRate = 0.2
- monthlyPaymentRate = 0.04
- totalPaid = 0
- for month in range (0,12):
- MP = (balance * monthlyPaymentRate)
- monthlyInterestRate = (annualInterestRate/12)
- monthinterest = (balance - MP) * monthlyInterestRate
- remaining = balance + monthinterest - MP
- print ('Month: ' +str(month+1))
- print 'Minimum monthly payment: ', +(round(MP,2))
- print 'Remaining Balance: ', +(round(remaining,2))
- totalPaid += MP
- rembalance = balance - totalPaid
- print 'Total Paid: ', +(round(totalPaid,2))
- print 'Remaining Balance: ', +(round(rembalance,2))
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