Question: Answer in python get_min_payment() Parameters The total amount of the balance in an account that is left to pay (called the balance; you can assume

Answer in python

Answer in python get_min_payment() Parameters The total amount of the balance in

an account that is left to pay (called the balance; you can

get_min_payment() Parameters The total amount of the balance in an account that is left to pay (called the balance; you can assume this is a positive number) The fees associated with the credit card account (you can assume this is a positive integer; assign this parameter a default value of 0) Functionality 1. Compute the minimum credit card payment. (min_payment). You should use the formula min_payment = (b * m) + f) where b is the balance in the account m is the percent of the balance that needs to be paid (represented as a float where 2% is represented as .02). Make the constant value of this variable .02. Note: This is not the same thing as the APR. f is the amount of fees that will be paid per month Functionality 1. Compute the minimum credit card payment. (min_payment). You should use the formula min_payment = ((b* m) + f) where b is the balance in the account om is the percent of the balance that needs to be paid (represented as a float where 2% is represented as .02). Make the constant value of this variable .02. Note: This is not the same thing as the APR. f is the amount of fees that will be paid per month. 2. Determine if the minimum payment that was computed using the formula is below 25. If is is, we should set the minimum payment to 25 instead. Return this number. NOTE This function takes into account only balance, the minimum payment percentage, and fees. In the real world, minimum credit card payments may take more factors into account

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Databases Questions!