I want to add a total paid variable to my code, but i couldnt think of any formula to sum the minimum payments and give me a total, my code is 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. and i want that at the end it said like how much have you paid over the year
balance = 5000.00
monthlyPaymentRate = 0.02
annualInterestRate = 0.18
interest = annualInterestRate * balance
monthly_interest_rate = annualInterestRate / 12
month = 1
while (month < 13):
minumi_monthly_paymente = monthlyPaymentRate * balance
monthly_unpaid_balance = balance - minumi_monthly_paymente
updated_balance_each_month = monthly_unpaid_balance + (monthly_interest_rate * monthly_unpaid_balance)
unpaidbalance = balance - minumi_monthly_paymente
TotalPaid= minumi_monthly_paymente
print "month: " + str(month)
print "minumum month paymente: " + str(round(minumi_monthly_paymente, 2))
print "Remaining balance: " + str(round(unpaidbalance, 2))
balance = unpaidbalance + monthly_interest_rate * unpaidbalance
month = month + 1
print "Total paid:"
print "Remaining balance: " + str(round(unpaidbalance))