Question

Hey everyone!
I was hoping for some help with Assignment #1 Problem #2. I have an approach that seems to work, but I am not sure the method is efficient and seems a bit cheap (I have no programming experience). Will be posting my program in the reply section. Thanks for your help!

Answer 1

balance = float(raw_input('Enter the Outstanding balance on the cerdit card: '))
AIR = float(raw_input('Enter the Anunual credit card interest rate as a decimal '))
mon_int_rate = AIR/12 #monthly interest rate
balance_orig = balance #storing the original balance for if later on
payment = 10 #initial $10 paymment
Month = 0
while balance > 0:
Month = Month + 1
balance = balance*(1 + mon_int_rate)-payment

#So this while loop will first evaluate $10 attempt for 1 month, then the 2nd month, then then the 3rd month and through the 12th month. Once the 13th month comes, the "if" loop below will come into play. If the $10 payment does not stop the while loop within 12 months, then everything resets, except for the payment which is raised by $10. Also in order to get back to the original balance, it was stored as balance_orig (end of long comment (CODE CONTINUES BELOW)

if Month > 12:
Month = 0
payment = payment + 10
balance = balance_orig
print 'RESULT'
print 'Monthly payment to pay off debt in 1 year: $' + str(payment)
print 'Number of months needed: ' + str(Month)
print 'Balance: $' + str(round(balance, 2))

Answer 2

Just ran your code, it runs fine and checks with the examples.

You say you're just a beginner so I'm not sure if 100% clean and efficient code is what you should be looking for. Instead, practicing problem solving and gaining insight into how the manipulate the computer should be a priority.

That being said, there are other operators and tricks you learn as you keep coding that may end up making this script even better.

Answer 3

How did you do the first question? I'm so confused

Answer 4

Are you confused about my program for the second problem that you need to see how I did the first? Or are you confused about the how to do the first problem? Sorry if that came off rude, just wanted clarification.

I have provided my program for the 1st problem below, if you have questions or concerns please ask.

balance = float(raw_input('Enter Outstanding Balance on Your Credit Card '))
AIR = float(raw_input('Enter the annual credit card interest rate as a decimal: '))
MMPR = float(raw_input('Enter the minmum monthly payment rate as a decimal: '))
Total_Paid = 0
for Month in range(1, 13):
Min_Month_Paymnt = round(MMPR*balance, 2)
Interest_Paid = round((AIR/12.0)*balance, 2)
Principle_Paid = round(Min_Month_Paymnt - Interest_Paid,2)
balance = balance - Principle_Paid
Total_Paid = Total_Paid + Min_Month_Paymnt
print 'Month:' + str(Month)
print 'Minimum Monthly Payment: $' + str(Min_Month_Paymnt)
print 'Principle Paid: $' + str(Principle_Paid)
print 'Remaining balance: $' + str(balance)
print ''
print ''
print 'RESULT'
print 'Total paid: $' + str(Total_Paid)
print 'Remaining balance: $' + str(balance)