Question

I'm working on the second problem in problem set 1. I understand what to do... but I'm confused. I can get it to calculate the correct monthly payment, but how do I find how many months it takes to pay off (and the balance afterward)?

Answer 1

use a loop, each iteration of the loop represents a month, each month you add the interest then subtract the payment

Answer 2

Thank you so much!

For anyone having the same problem: I used two loops. The first loop was to find the minimum monthly payment by testing all 12 months and then adding to the payment if it wasn't enough.
Once I found the payment, I went on to the second loop, which is the one bwCA described.