subject

Now write a program that calculates the minimum fixed monthly payment needed in order pay off a credit card balance within a user defined number of months. we will not be dealing with a minimum monthly payment rate.
take as  input()  the following floating point numbers:
the outstanding balance on the credit cardannual interest rate as a decimalthe number of to pay off the debt
print out the fixed minimum monthly payment, number of months (at most the number of user defined months  and possibly less than that) it takes to pay off the debt, and the balance (likely to be a negative number).
assume that the interest is compounded monthly according to the balance at the start of the month (before the payment for that month is made). the monthly payment must be a multiple of $10 and is the same for all months. notice that it is possible for the balance to become negative using this payment scheme. in short:
monthly interest rate  = annual interest rate / monthschosen
updated balance each month  = previous balance * (1 + monthly interest rate) – minimum monthly payment
test case 1
> > >
enter the outstanding balance on your credit card:   1200
enter the annual credit card interest rate as a decimal:   .18
enter the number of months have the debt paid off by:   12
result
monthly payment to pay off debt in 1 year: 120
number of months needed: 11
balance: -10.05
> > >
test case 2
> > >
enter the outstanding balance on your credit card:   32000
enter the annual credit card interest rate as a decimal:   .2
enter the number of months have the debt paid off by:   24
result
monthly payment to pay off debt in 1 year: 1480
number of months needed: 24
balance: -88.92
> > >
hints
start at $10 payments per month and calculate whether the balance will be paid off (taking into account the interest accrued each month). if $10 monthly payments are insufficient to pay off the debt within a year, increase the monthly payment by $10 and repeat.

ansver
Answers: 2

Another question on Computers and Technology

question
Computers and Technology, 21.06.2019 22:00
What is the most important aspect of marking media? a. data labelingb. content descriptionc. electronic labelingd. classification
Answers: 2
question
Computers and Technology, 23.06.2019 02:00
Which of the following is not a source of sustainable raw materials? a) coal mine b) flick of sheep c) cotton plantation d) line forest.
Answers: 2
question
Computers and Technology, 23.06.2019 09:30
You wanted to look up information about alzheimer's, but you were unsure if it was spelled "alsheimer's" or "alzheimer's." which advanced search strategy would be useful? a) a boolean search b) using a wild card in your search c) trying different search engines d) doing a search for "alsheimer's not alzheimer's" asap. ill give brainlist.
Answers: 1
question
Computers and Technology, 23.06.2019 15:10
What role did women fill during world war ii?
Answers: 1
You know the right answer?
Now write a program that calculates the minimum fixed monthly payment needed in order pay off a cred...
Questions
question
Mathematics, 20.11.2019 07:31
question
History, 20.11.2019 07:31
question
Mathematics, 20.11.2019 07:31
Questions on the website: 13722367