The credit plan at TidBit Computer Store specifies a 10% down payment and an annual interest rate of 12%. Monthly payments are 5% of the listed purchase price, minus the down payment. Write a program that takes the purchase price as input. The program should display a table, with appropriate headers, of a payment schedule for the lifetime of the loan. Each row of the table should contain the following items: The month number (beginning with 1) The current total balance owed The interest owed for that month The amount of principal owed for that month The payment for that month The balance remaining after payment The amount of interest for a month is equal to balance × rate / 12. The amount of principal for a month is equal to the monthly payment minus the interest owed. An example of the program input and output is shown below: Enter the puchase price: 200 Month Starting Balance Interest to Pay Principal to Pay Payment Ending Balance 1 180.00 1.80 7.20 9.00 172.80 2 172.80 1.73 7.27 9.00 165.53 3 165.53 1.66 7.34 9.00 158.18 4 158.18 1.58 7.42 9.00 150.77 5 150.77 1.51 7.49 9.00 143.27 6 143.27 1.43 7.57 9.00 135.71 7 135.71 1.36 7.64 9.00 128.06 8 128.06 1.28 7.72 9.00 120.34 9 120.34 1.20 7.80 9.00 112.55 10 112.55 1.13 7.87 9.00 104.67 11 104.67 1.05 7.95 9.00 96.72 12 96.72 0.97 8.03 9.00 88.69 13 88.69 0.89 8.11 9.00 80.57 14 80.57 0.81 8.19 9.00 72.38 15 72.38 0.72 8.28 9.00 64.10 16 64.10 0.64 8.36 9.00 55.74 17 55.74 0.56 8.44 9.00 47.30 18 47.30 0.47 8.53 9.00 38.77 19 38.77 0.39 8.61 9.00 30.16 20 30.16 0.30 8.70 9.00 21.46 21 21.46 0.21 8.79 9.00 12.68 22 12.68 0.13 8.87 9.00 3.80 23 3.80 0.00 3.80 3.80 0.00
The credit plan at TidBit Computer Store specifies a 10% down payment and an annual interest rate of 12%. Monthly payments are 5% of the listed purchase price, minus the down payment.
Write a
- The month number (beginning with 1)
- The current total balance owed
- The interest owed for that month
- The amount of principal owed for that month
- The payment for that month
- The balance remaining after payment
The amount of interest for a month is equal to balance × rate / 12.
The amount of principal for a month is equal to the monthly payment minus the interest owed.
An example of the program input and output is shown below:
Enter the puchase price: 200 Month Starting Balance Interest to Pay Principal to Pay Payment Ending Balance 1 180.00 1.80 7.20 9.00 172.80 2 172.80 1.73 7.27 9.00 165.53 3 165.53 1.66 7.34 9.00 158.18 4 158.18 1.58 7.42 9.00 150.77 5 150.77 1.51 7.49 9.00 143.27 6 143.27 1.43 7.57 9.00 135.71 7 135.71 1.36 7.64 9.00 128.06 8 128.06 1.28 7.72 9.00 120.34 9 120.34 1.20 7.80 9.00 112.55 10 112.55 1.13 7.87 9.00 104.67 11 104.67 1.05 7.95 9.00 96.72 12 96.72 0.97 8.03 9.00 88.69 13 88.69 0.89 8.11 9.00 80.57 14 80.57 0.81 8.19 9.00 72.38 15 72.38 0.72 8.28 9.00 64.10 16 64.10 0.64 8.36 9.00 55.74 17 55.74 0.56 8.44 9.00 47.30 18 47.30 0.47 8.53 9.00 38.77 19 38.77 0.39 8.61 9.00 30.16 20 30.16 0.30 8.70 9.00 21.46 21 21.46 0.21 8.79 9.00 12.68 22 12.68 0.13 8.87 9.00 3.80 23 3.80 0.00 3.80 3.80 0.00
Introduction:
Python is a programming language used to build websites and apps, automate processes, and analyse data. Because Python is a general-purpose programming language, it may be used to create a variety of applications and is not focused on solving any one particular issue.
The month of the year (beginning with 1)
The current total outstanding amount
The monthly interest payment
The amount owing in principle for that month
The amount due for the month
The leftover balance after payment
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