# Write program to calculate the credit card balance after one year if a person only pays the minimum monthly payment required by the

# credit card company each month.

# The following variables contain values as described below:

# balance - the outstanding balance on the credit card

# annualInterestRate - annual interest rate as a decimal

# monthlyPaymentRate - minimum monthly payment rate as a decimal

# For each month, calculate statements on the monthly payment and remaining balance. At the end of 12 months, print out the remaining

# balance. Be sure to print out no more than two decimal digits of accuracy - so print

# Remaining balance: 813.41

# instead of

# Remaining balance: 813.4141998135

# So your program only prints out one thing: the remaining balance at the end of the year in the format:

# Remaining balance: 4784.0

# A summary of the required math is found below:

# Monthly interest rate= (Annual interest rate) / 12.0

# Minimum monthly payment = (Minimum monthly payment rate) x (Previous balance)

# Monthly unpaid balance = (Previous balance) - (Minimum monthly payment)

# Updated balance each month = (Monthly unpaid balance) + (Monthly interest rate x Monthly unpaid balance)

# Paste your code into this box

for i in range(12):

balance = balance - (balance * monthlyPaymentRate) + ((balance - (balance * monthlyPaymentRate)) * (annualInterestRate/12))

print("Remaining balance:", round(balance, 2))