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- ## ps1, prob 3
- print 'Given a starting balance and interest rate, this program will calculate your minimum monthly payment,'
- print 'that will pay off your balance in 12 months or less.'
- balance = float(raw_input('Enter the outstanding balance on your credit card:'))
- interestrate = float(raw_input('Enter the annual credit card interest rate as a decimal:'))
- lowerbound=balance/12
- upperbound=(balance*(1+(interestrate/12))**12)/12
- payment=(lowerbound+upperbound)/2
- def twelvemonth ():
- global payment
- global lowerbound
- global upperbound
- month = 0
- while month <=11:
- month = month + 1
- if month==1:
- calcbalance = balance
- intowed = calcbalance*(interestrate/12)
- calcbalance = calcbalance + intowed - payment
- if -.12 <= calcbalance <= 0 and month == 12:
- print 'Monthly payment to pay off debt in 1 year: $' + str(round(payment, 2))
- print 'Number of months needed: ' + str(month)
- print 'Balance: $' + str(round(calcbalance, 2))
- if calcbalance < -.12 and month == 12:
- upperbound=payment
- payment=(payment+lowerbound)/2
- twelvemonth ()
- if calcbalance > 0 and month == 12:
- lowerbound=payment
- payment=(payment+upperbound)/2
- twelvemonth ()
- twelvemonth ()
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