The credit plan at TidBit Computer Store specifies a 10% down payment and an annual interest rate of 12%. Monthly payments are 5% of the listed purchase price, minus the down payment.

Write a program that takes the purchase price as input. The program should display a table, with appropriate headers, of a payment schedule for the lifetime of the loan. Each row of the table should contain the following items:

1. The month number (beginning with 1)
2. The current total balance owed
3. The interest owed for that month
4. The amount of principal owed for that month
5. The payment for that month
6. The balance remaining after payment

The amount of interest for a month is equal to balance × rate / 12.

The amount of principal for a month is equal to the monthly payment minus the interest owed.

An example of the program input and output is shown below:

Enter the puchase price: 200 Month  Starting Balance  Interest to Pay  Principal to Pay  Payment  Ending Balance 1         180.00           1.80             7.20             9.00           172.80 2         172.80           1.73             7.27             9.00           165.53 3         165.53           1.66             7.34             9.00           158.18 4         158.18           1.58             7.42             9.00           150.77 5         150.77           1.51             7.49             9.00           143.27 6         143.27           1.43             7.57             9.00           135.71 7         135.71           1.36             7.64             9.00           128.06 8         128.06           1.28             7.72             9.00           120.34 9         120.34           1.20             7.80             9.00           112.55 10         112.55           1.13             7.87             9.00           104.67 11         104.67           1.05             7.95             9.00            96.72 12          96.72           0.97             8.03             9.00            88.69 13          88.69           0.89             8.11             9.00            80.57 14          80.57           0.81             8.19             9.00            72.38 15          72.38           0.72             8.28             9.00            64.10 16          64.10           0.64             8.36             9.00            55.74 17          55.74           0.56             8.44             9.00            47.30 18          47.30           0.47             8.53             9.00            38.77 19          38.77           0.39             8.61             9.00            30.16 20          30.16           0.30             8.70             9.00            21.46 21          21.46           0.21             8.79             9.00            12.68 22          12.68           0.13             8.87             9.00             3.80 23           3.80           0.00             3.80             3.80             0.00

How to type into python?

Answer rating: 100% (QA)

purchasePrice floatinputEnter the purchase price Initialize annual interest and monthly ... View the full answer