Hi folks, absolute beginner here trying out problem set 1. I've got the code for obtaining the basic information, and the code for the 4 relevant equations, but I can't figure out how to write the code to get the balance after month 1 to become the starting balance for month 2, etc.... can anybody help me with this?

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Probably, without seeing any code, just assign the balance after month 1 to whatever variable was the starting balance for month 1 and let it run.

use a loop, modify the balance variable in the loop, on the next iteration (month) it will be the balance for the next month

Thanks for the replies! I thought I tried to create a loop with the following code, but it just gives me the same values I get for Month 1 for months2-12. Any clue where I go wrong? Code: #Gets initial values for credit variables from user input bal = float(raw_input('Enter the outstanding balance on your credit card: ')) apr = float(raw_input('Enter the annual interest rate as a decimal: ')) mpr = float(raw_input('Enter the minimum monthly payment rate as a decimal: ')) #Basic equations that use input values to return the new balance minpay = mpr*bal intpaid = apr/12 *bal prinpaid = minpay - intpaid newbalance = bal - prinpaid m = 1 for m in range(1,13): print 'Month: ', m print 'Minimum monthly payment: ', minpay print 'Principle paid: ', prinpaid print 'Remaining balance: ', newbalance bal = newbalance

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