Credit card interest. Write a Python program that determines the num- ber of mon

Question

Credit card interest. Write a Python program that determines the num- ber of months required to payoff a credit card balance—assuming no other purchases are incurred on the card. You will need to import the math module for this program. In particular, you will find the math.log() function to be useful. (See the pictures for more instructions)

Consider the following variables.
• b = credit card balance
• n = number of months to payoff balance

• p = monthly payment (in dollars)

• r = effective (monthly) interest rate

Please, attach a picutre of your code so that I can see the indentation and write the code correctly.

Explanation / Answer

Code:

b = int(input("Please enter the amount:"))
r = int(input("Please enter the interest rate :"))
p = int(input("Please enter monthly installment:"))
rr = r/12
month = 1
print("# months Payoff Bal")
while b>0:
   print("%d %d "%( month, b))
   interest = b*(rr/100)
  
   b = (b + interest - p)
   month += 1

Output:

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.