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bman214

  • one year ago

I'm working on the second problem in problem set 1. I understand what to do... but I'm confused. I can get it to calculate the correct monthly payment, but how do I find how many months it takes to pay off (and the balance afterward)?

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  1. bwCA
    • one year ago
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    use a loop, each iteration of the loop represents a month, each month you add the interest then subtract the payment

  2. bman214
    • one year ago
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    Thank you so much! For anyone having the same problem: I used two loops. The first loop was to find the minimum monthly payment by testing all 12 months and then adding to the payment if it wasn't enough. Once I found the payment, I went on to the second loop, which is the one bwCA described.

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spraguer (Moderator)
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