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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)?
 one year ago
 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)?
 one year ago
 one year ago

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bwCABest ResponseYou've already chosen the best response.1
use a loop, each iteration of the loop represents a month, each month you add the interest then subtract the payment
 one year ago

bman214Best ResponseYou've already chosen the best response.0
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.
 one year ago
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