Solution for Problem one EdX

gistfile1.txt

def payment(month, balance, AIRate, MPRate):
	minimumPayment = balance * MPRate
	remainingBalance = balance - minimumPayment
	unpayedBalance = balance-minimumPayment
	interest = (AIRate/12) * unpayedBalance
	balance = unpayedBalance + interest

	print "Month:", month
	print "Minimum monthly payment: %.2f" %(minimumPayment)
	print "Remaining balance: %.2f \n" %(unpayedBalance)

	return balance

def loop_months(balance, AIRate, MPRate):
	for month in range(12):
		balance = payment(month, balance, AIRate, MPRate)

loop_months(5000, 0.18, 0.02)