Question

Write a 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, and print to screen something of the format: Month: 1 Minimum monthly payment: 96.0 Remaining balance: 4784.0 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 Finally, print out the total amount paid that year and the remaining balance at the end of the year in the format: Total paid: 96.0 Remaining balance: 4784.0

Answer 1

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