paying the minimum | Python Fiddle

'''
bal0 = 5000 #balance for month 0
pay0 = bal0 * 0.02 #payment for month 0
unpaidbal0 = bal0 - pay0 #unpaid balance for month 0
rate = 0.18 # yearly interest rate
bal1 = unpaidbal0 + ((rate/12)*unpaidbal0) #add interest at beginning of month 1
pay1  = bal1 * 0.02 # make min payment for month 1
unpaidbal1 = bal1 - pay1  #remaining after monthe 1
bal2 = unpaidbal1 + ((rate/12)*unpaidbal1)
print monthly like:
Month: 1
Minimum monthly payment: 96.0
Remaining balance: 4784.0     round to two decimals
print year like Total paid: 96.0
Remaining balance: 4784.0

'''

balance = 4213
annualInterestRate = 0.2
monthlyPaymentRate = 0.04
months = 1
minPay = 0

def minPayment(bal, rate):
    '''
    accepts floats
    calculatges minimum payment using rate
    returns float
    '''
    return bal * rate
    
def addInterest(bal, rate):
    '''
    accepts floats
    calculates new balance with added interest
    returns float
    '''

def makePayment(bal, pay):
    '''
    accepts floats
    subtracts payment from balance
    returns float
    '''
balance = makePayment(balance, minPayment(balance, monthlyPaymentRate))
while months <= 12:
    print 'Month: ' + str(months)
    print 'Minimum monthly payment: ' + str(minPay)
    print 'Remaining balance: '+ str(balance)
    months += 1

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