Question

Im having problems with calculating fixed amount to be paid every month to pay debt off in a a year.I have tried this following program but I know what is wrong with it,I just need help fixing it
lowpay=10
initial=balance
epsilon=1
month=1
while(True):
month=1
balance=initial
while(month<=12):
test=balance
balance+=balance*(annualInterestRate/12)
balance-=lowpay
month+=1
if(balance>0):
lowpay+=10
else:
break
print('Lowest Payment: '+str(lowpay))