Question

PYTHON ONLY

This is beginner python.

Use Python to make a calculator that shows debt/monthly payments.

Write a python program given:

balance = 100

interest = 10% annually

payment = 10

Output should look like this:

Enter initial balance:100

Enter annual % interest rate:10

Enter monthly payment:100

Month: 1

Beginning balance: $100.00

Interest charge this month: $0.83

Balance going forward: $90.83

Total paid in all: $10.00

Month: 2

Beginning balance: $90.83

Interest charge this month: ###

Balance going forward: ###

Total paid in all: ####

.......

…

… the program should continue looping and the month # increases by 1 each time.

Until the Balance going forward is < = $0.

The program uses a while loop.

Answer 1

/***********************************main.py***************************/

initialBalance = float(input("Enter initial balance: "))
annualRate = float(input("Enter annual % interest rate: "))
monthlyPayment = float(input("Enter monthly payment: "))

month = 1
while(initialBalance>0):
print("Month",month)
print("Beginning balance: $%.2f"%initialBalance)
interest = initialBalance*annualRate/1200
print("Interest charge this month: $%.2f"%interest)
initialBalance = (initialBalance - monthlyPayment)+interest
if(initialBalance<=0):
print("Balance going forward: $0")
break;
print("Balance going forward: $%.2f"%initialBalance)
month = month+1;

Please let me know if you have any doubt or modify the answer, Thanks:)