balance = 999999 annualInterestRate = .18 previousBalance = balance updatedBalanceEachMonth = balance numMonths = 1 Step = 100 monthlyInterestRate = (annualInterestRate) / 12.0 monthlyPaymentLowerBound = balance / 12 monthlyPaymentUowerBound = (balance * (1 + monthlyInterestRate)**12) / 12.0 for trial in range(int(monthlyPaymentLowerBound)*Step, int(monthlyPaymentUowerBound)*Step,1): minimumFixedMonthlyPayment = 1.0 * trial/Step for numMonths in range(1,13): monthlyUnpaidBalance = (previousBalance) - (minimumFixedMonthlyPayment) updatedBalanceEachMonth = (monthlyUnpaidBalance) + (monthlyInterestRate * monthlyUnpaidBalance) previousBalance = updatedBalanceEachMonth if previousBalance < 0: break else: previousBalance = balance updatedBalanceEachMonth = balance print 'Lowest Payment: ' + str(minimumFixedMonthlyPayment)
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