problem set two | Python Fiddle

'''
Problem Set 2, Problem 1
 
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.
'''
 
# These three variables are normally provided by checking script, stolen from Test Case 1.
balance = 4213
annualInterestRate = 0.2
monthlyPaymentRate = 0.04

monthlyInterestRate = annualInterestRate/12.0 
totalPaid = 0 
for month in range(1,13):
    minMonthlyPayment = monthlyPaymentRate * balance
    monthlyUnpaidBalance = balance - minMonthlyPayment
    monthlyInterest = monthlyInterestRate * balance
    balance = monthlyUnpaidBalance + (monthlyInterestRate * monthlyUnpaidBalance)
    totalPaid += minMonthlyPayment 
 
    print('Month: ' + str(month))
    print('Minimum monthly payment: ' + str(round(minMonthlyPayment,2)))
    print('Remaining balance: ' + str(round(balance,2)))
 
print('Total paid: ' + str(round(totalPaid,2)))
print('Remaining balance: ' + str(round(balance,2)))

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