Answered step by step
Verified Expert Solution
Question
1 Approved Answer
PYTHON PROGRAM Instructions The credit plan at TidBit Computer Store specifies a 10% down payment and an annual interest rate of 12%. Monthly payments are
PYTHON PROGRAM
Instructions 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 tems: 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 x 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 Payme 1.80 1.73 1.66 1.58 1.51 1.43 1.36 1.28 1.20 1.13 1.05 0.97 0.89 0.81 0.72 0.64 0.56 0.47 0.39 0.30 0.21 . 13 0.00 1 180.00 172.80 165.53 158.18 150.77 143.27 135.71 128.06 120.34 112.55 104.67 96.72 88.69 80.57 72.38 64.10 55.74 47.30 38.77 30.16 21.46 12.68 3.80 7.20 7.27 7.34 7.42 7.49 7.57 7.64 7.72 7.80 7.87 7.95 8.03 8.11 8.19 8.28 8.36 8.44 8.53 8.61 8.70 8.79 8.87 3.80 2 9.0 7 10 9.0 12 13 14 15 16 17 18 19 20 21 9.0 9.0 9.0 9.0 9.0 23 3.8Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started