Prob set 2 Problem 1 JEP

#Write a program to calculate the credit card balance after one year if a person only pays the minimum monthly payment 
#required by the credit card company each month. Keep it to two decimals.
#output should be:
#Month: 1
#Minimum monthly payment: 96.0
#Remaining balance: 4784.0
#Final line: 
#Total paid: 96.0
#Remaining balance: 4784.0
######################################################## Do Not Copy###################################
balance = 5000.00
annualInterestRate = 0.12
monthlyPaymentRate = 0.01
######################################################## Do Not Copy###################################
month = 1
totalPaid = 0
while month <= 12:
    #Monthly interest rate= (Annual interest rate) / 12.0
    monthlyIntRate = annualInterestRate/12.0
    
    #Minimum monthly payment = (Minimum monthly payment rate) x (Previous balance)
    minMonthlyPayment = monthlyPaymentRate*balance
    
    #Monthly unpaid balance = (Previous balance) - (Minimum monthly payment)
    balance -= minMonthlyPayment
    
	#Updated balance each month = (Monthly unpaid balance) + (Monthly interest rate x Monthly unpaid balance)
    balance += (monthlyIntRate*unpaidBalance)
    print ('Month: ' + str(month))
    print ('Minimum monthly payment: ' + str(minMonthlyPayment))
    print ('Remaining balance: ' + str(balance))
    totalPaid += minMonthlyPayment
    month += 1
print ('Total Paid: ' + str(totalPaid))
print ('Remaining balance: ' + str(balance))

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