Question

I need help on problem 1 part 2 I know you have to do a for loop for the monthly payment and a nested for loop for the months but something about my code is not right:
x = float(raw_input('Enter the outstanding balance on your credit card: '))
y = float(raw_input('Enter the annual credit card interest rate as a decimal: '))
MMP = 0
MIR = y/12.0
month = 0
for MMP in range(0, 1200, 10):
NB = x*(1+MIR) - MMP
for i in range(1, 13):
NB = x*(1+MIR) - MMP
x = NB
print NB
print MMP
if NB >= 0:
month += 1
else:
break

Answer 1

and it cut off my print code but I have that below the else: break part

Answer 2

what is it spose to do? and what is it doing?

Answer 3

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Answer 4

Use a for loop within a while loop. Set the while loop condition so that it will terminate when the balance hits 0 or less.

This is how i wrote it:

out_balance = float(raw_input("Enter the outstanding balance on your credit card: "))
annual_interest = float(raw_input("Enter the annual credit card interest rate as a decimal: "))
monthly_interest = (annual_interest/12.0) + 1.0
min_pay = 0
updated_balance = out_balance

while updated_balance = out_balance:
updated_balance = out_balance
min_pay += 10

for month in range(1, 13):
updated_balance = updated_balance * monthly_interest - min_pay
if updated_balance <= 0.0:
break

print "RESULT"
print "Monthly payment to pay off debt in 1 year: " , min_pay
print "Number of months needed: " , month
print "Balance: " , round(updated_balance, 2)

Answer 5

Thank you so much, that was very helpful! Although I will say it didn't work until I changed the while loop to:

while updated_balance >= 0: etc. etc.