MIT 6.00SC - Problem Set 1 - Problem 2

initial_balance = float(raw_input('Enter the outstanding balance on your credit card: '))
annual_interest = float(raw_input('Enter the annual credit card interest rate as a decimal: '))
monthly_interest = annual_interest/12.0
multiples_of_ten = 1
monthly_payment = 10
termination_checker = 0

for multiples_of_ten in range (1, (int(initial_balance/10)+1)):
    balance = initial_balance
    total_paid = 0
    months = 1
    while termination_checker == 0 and months <=12:
##        print 'Month:', months
        total_paid += monthly_payment * multiples_of_ten
##        print 'Monthly payment was: $',monthly_payment * multiples_of_ten
##        print 'Total paid so far on month #',months,'is $',total_paid
        balance = balance * (1 + monthly_interest) - (monthly_payment * multiples_of_ten)
##        print 'Balance after month #',months,'is $',balance
##        print 'Current monthly payment multiplier is 10 *',multiples_of_ten
##        print '--------------------------------------------'
        if balance <= 0:
            print '**************************************'
            print 'RESULT'
            print 'Monthly payment to pay off debt in 1 year: $', monthly_payment * multiples_of_ten
            print 'Number of months needed:', months
            print 'Balance: $',round(balance,2)
            print '***************************************'
            termination_checker = 1
        else:
            months += 1