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minimallinux Group Title

I seem to be missing something in pset2 see code balance = 4213 annualInterestRate = 0.2 monthlyPaymentRate = 0.04 mmp = monthlyPaymentRate*balance m = 1 while(m <=12): print 'Month: ', m m += 1 print 'Minimum monthly payment: ',round(mmp,2) balance = (balance - mmp)*(1 + monthlyPaymentRate) mmp = monthlyPaymentRate*balance print 'Remaining balance: ',round(balance,2) It's first attempt, doesn't match the test case for reduction in values in fact it seems a draconian rate, i cant see why. Thanks

  • one year ago
  • one year ago

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  1. rsmith6559 Group Title
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    Two things that will help you. First and most importantly, when you're not comfortable with the math that you're going to be doing, comment the heck out of it. That will help you check that you're code is doing exactly what you intended. Second, for debugging, print the answer after each calculation to make sure that things are progressing just as you expect.

    • one year ago
  2. TuringTest Group Title
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    balance = (balance - mmp)*(1 + monthlyPaymentRate) ^^^^ why is this MPR? shouldn't it be monthly interest rate?

    • one year ago
  3. TuringTest Group Title
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    That, and you need a total paid variable to keep track of, along with the print statements at the end for final balance and total paid.

    • one year ago
  4. medisynergi Group Title
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    it would help if you posted the original formula from the problem.

    • one year ago
  5. minimallinux Group Title
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    Its using the basic formula provided, but doesn't seem to work balance = (balance - mmp)*(1 + monthlyPaymentRate) is supposed to be the new balance after removing the payment and adding interest @Turing Test, yes that is the monthly interest rate

    • one year ago
  6. Chris2332 Group Title
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    I would suggest solving the problem in paper first and understand how to reach to a solution. Then use programming to help you get the solution faster. In my opinion. you have not fully understood the problem judging by your code. If you solve it in paper, it should be straight forward to code it! *Note the the rest, as I have mentioned to other posts... since the deadline for the exercise has not passed, we should not be providing full solutions in here! Just something to remember!

    • one year ago
  7. minimallinux Group Title
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    It prints out in the format required but the maths is not correct. Even if I separate the monthly payment subtraction from the preceding balance and the adding on of interest it is still not right.

    • one year ago
  8. Chris2332 Group Title
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    If the maths are not correct, then you need to revisit the problem on paper. Forget programming for the moment and focus on understanding and solving the problem. There are tips and instructions on the problem set page to help you get started!

    • one year ago
  9. minimallinux Group Title
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    There must be one of my variables I have calculated wrongly, as the others are preset. This must be the mmp which I have as = monthlyPaymentRate*balance

    • one year ago
  10. Chris2332 Group Title
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    Which of the 3 exercises in problem set 2 are you stuck?

    • one year ago
  11. minimallinux Group Title
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    The 1st one, paying the minimum.

    • one year ago
  12. Chris2332 Group Title
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    As described on the page of the problem: To help you get started, here is a rough outline of the stages you should probably follow in writing your code: For each month: - Compute the monthly payment, based on the previous month’s balance. - Update the outstanding balance by removing the payment, then charging interest on the result. - Output the month, the minimum monthly payment and the remaining balance. - Keep track of the total amount of paid over all the past months so far. Print out the result statement with the total amount paid and the remaining balance. Use these ideas to guide the creation of your code. These are step by step instructions on how to approach the problem! Let me know if you have any issues!

    • one year ago
  13. medisynergi Group Title
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    balance = (balance - mmp)*(1 + monthlyPaymentRate) that is incorrect.

    • one year ago
  14. minimallinux Group Title
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    Not according to this

    • one year ago
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  15. bwCA Group Title
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    you should look very carefully at the pic that you posted and the line that medisynergi posted

    • one year ago
  16. minimallinux Group Title
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    So monthlyPaymentRate and monthly InterestRate are not the same ?

    • one year ago
  17. bwCA Group Title
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    read the problem instructions/specifications again

    • one year ago
  18. Chris2332 Group Title
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    One is interest rate on the amount owed, the payment rate is the monthly instalment!

    • one year ago
  19. minimallinux Group Title
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    so it should be monthlyInterestRate and be set at 18/12

    • one year ago
  20. minimallinux Group Title
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    Evidently not

    • one year ago
  21. Chris2332 Group Title
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    0.18/12 what is 18? interest rate is a percentage!

    • one year ago
  22. minimallinux Group Title
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    Annual rate 18%

    • one year ago
  23. Chris2332 Group Title
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    exactly... 18% = 18/100 = 0.18, not 18

    • one year ago
  24. minimallinux Group Title
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    OK Thanks.

    • one year ago
  25. minimallinux Group Title
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    It's still wrong though while(m <=12): print 'Month: ', m m += 1 print 'Minimum monthly payment: ',round(mmp,2) balance = (balance - mmp)*(1 + 0.18/12) paid = mmp + paid print 'Total paid: ',paid mmp = monthlyPaymentRate*balance print 'Remaining balance: ',round(balance,2) Can't seem to get it

    • one year ago
  26. Chris2332 Group Title
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    Do you have a solution in paper? It seems that you don't!

    • one year ago
  27. minimallinux Group Title
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    No its wrong on paper too, I'm not getting right the subtraction of mmp and the subsequent adding of the compound interest. Back to the drawing board. (I haven't done maths for well over 30 years so need a little slack here. I've also only tried Python for 2-3 weeks)

    • one year ago
  28. Chris2332 Group Title
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    Not trying to agitate you... Just suggesting that you should take a step back and think the solution of the problem on paper first with small steps.

    • one year ago
  29. minimallinux Group Title
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    I finally got it right ! Passed grader, I was very close all the time but I didn't use the annualInterestRate in the balance calculation/12 (for monthly interest) You are right though, I am rushing without thinking too much at all. Thanks again.

    • one year ago
  30. Chris2332 Group Title
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    Not a problem... we are always here to help but the more you try the better for you!

    • one year ago
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