Total paid function

Question

I have this code:

balance = 4213
annualInterestRate = 0.2
monthlyPaymentRate = 0.04
monthly_interest_rate = annualInterestRate / 12.0
for counter in range(1, 12):
    payment = monthlyPaymentRate * balance
    monthly_unpaid_balance = balance - payment
    balance = monthly_unpaid_balance + (monthly_interest_rate * monthly_unpaid_balance)
    print('Month: {}\nMinimum monthly payment: {}\nRemaining balance:{}'.format(
              counter, round(payment, 2), round(balance, 2)))

How can I calculate Total paid(sum of all minimum monthly payments)?

'Please help me with this part of the code.' Which part? – Nov 02 '13 at 16:47 — , Nov 02 '13 at 16:47

score 2 · Answer 1 · answered Nov 02 '13 at 16:48

2

I think you are calculating for only 11 months instead of 12.

for counter in range(1, 12+1)

answered Nov 02 '13 at 16:48

Paul Draper

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I've allocated my problem with ** sings – Oleksandr Firsov Nov 02 '13 at 16:49

score 1 · Answer 2 · edited May 23 '17 at 11:51

1

You copy-pasted wrongly from my answer. The range should be until 13.

edited May 23 '17 at 11:51

Community

1
1

answered Nov 02 '13 at 16:51

Mihai Maruseac

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Oh, God. You're right.... – Oleksandr Firsov Nov 02 '13 at 16:54

Total paid function

2 Answers2