Question

Can somebody assist me in problem set 1? its for the first problem....(credit of $5K) ...I don't get the part to use the for loop, range, and count for each month....

Answer 1

Here's what I have so far....but my problem is that it won't update the values for the remaining balance and what not......?????? your help is greatly appreciated!

Balance = float(input('What is your outstanding balance on your credit card?'))

monthly_payment = .02 * Balance

interest_paid = .18/12.0 * Balance

principle_paid = monthly_payment - interest_paid

remaining_balance = Balance - principle_paid

for count in range (1,13):
remaining_balance = Balance - principle_paid

monthly_payment = .02 * remaining_balance

interest_paid = .18/12.0 * remaining_balance

print 'Interest paid:', interest_paid

print 'Minimum monthly payment:', monthly_payment

print 'Principle paid:', principle_paid

print 'remaining_balance:' , remaining_balance

print 'Enter the annual credit card interest rate as a decimal:.2'

print 'Enter the minimum monthly payment rate as a decimal: .02'

print 'Month:' , count

Answer 2

I am not sure what your indenting is supposed to be. That is where the \(\text{```}\) thing from the other question you commented on comes in. Pastebin or dpaste also work really well for this.

Answer 3

ahhhh okay sorry about that e.mccormick....not sure what happened there with my indentation....


Balance = float(input('What is your outstanding balance on your credit card?'))

monthly_payment = .02 * Balance

interest_paid = .18/12.0 * Balance

principle_paid = monthly_payment - interest_paid

remaining_balance = Balance - principle_paid

for count in range (1,13):
remaining_balance = Balance - principle_paid

monthly_payment = .02 * remaining_balance

interest_paid = .18/12.0 * remaining_balance

print 'Interest paid:', interest_paid

print 'Minimum monthly payment:', monthly_payment

print 'Principle paid:', principle_paid

print 'remaining_balance:' , remaining_balance

print 'Enter the annual credit card interest rate as a decimal:.2'

print 'Enter the minimum monthly payment rate as a decimal: .02'

print 'Month:' , count


i'll use pastebin....thanks for the tip!!!!! greatly appreciated!

Answer 4

This way you have to enter your balance, intrest etc witin the for loop, while these figures are only requested at the start (of a year)

Answer 5

The print statements with the prhase 'Enter....", are not input statements, where you do need the input (and you need theme at the start of the program
They should also be float(raw_input(....) statements

Answer 6

if these two are also given as an input, you need to use it instead of the numbers 0.2 and o.18 you use in the for-loop
They have to be calculated from the entered values

Answer 7

I take it that you intent to do ps1 problem 1

Answer 8

So with minimal changes (print instead of inputs, you can change that later on
```
Balance = float(input('What is your outstanding balance on your credit card?'))
print 'Enter the annual credit card interest rate as a decimal:.2'
print 'Enter the minimum monthly payment rate as a decimal: .02'
monthly_payment = .02 * Balance
interest_paid = .18/12.0 * Balance
principle_paid = monthly_payment - interest_paid
Balance = Balance - principle_paid

for count in range (1,13):

# you had
# remaining = Balance - principle_paid
remaining_balance = remaining_balance - principle_paid

monthly_payment = .02 * remaining_balance
interest_paid = .18/12.0 * remaining_balance

print 'Interest paid:', interest_paid
print 'Minimum monthly payment:', monthly_payment
print 'Principle paid:', principle_paid
print 'remaining_balance:' , remaining_balance

print 'Month:' , count
```

You will have to change the print statements at the start and use variables instead of numbers to make it more general later on

Answer 9

@roderick_camarce