Problem1_PSet2

# -*- coding: utf-8 -*-
"""
Created on Wed Jan 17 07:29:04 2018

@author: user
"""

#PSet2_Peoblem 2

balance = 42
annualInterestRate = 0.2
monthlyPaymentRate = 0.04
#these 3 values above are to be defined  by the grader

# resut to be KEPT and month to be DELETED when posting
result = 0
month = 0

for i in range(12):

    monthlyInterestRate = (annualInterestRate)/12.0
    minimumMonthlyPayment = monthlyPaymentRate * balance
    monthlyUnpaidBalance = balance - minimumMonthlyPayment
    updatedBalance = monthlyUnpaidBalance + (monthlyInterestRate * monthlyUnpaidBalance)

    result += minimumMonthlyPayment
    balance = updatedBalance
    month += 1
    print('Month' + str(month) + 'Remaining balance:' + str(round(result, 2)))

print('Remaining balance:' + str(round(result, 2)))