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The credit plan at TidBit Computer Store specifies a 10% down payment and an annual interest rate of 12%. Monthly payments are 5% of the listed purchase price, minus the down payment. Write a program in python that takes the purchase price as input. The program should display a table, with appropriate headers, of a payment schedule for the lifetime of the loan. Print a payment schedule for a loan to purchase a laptop. Each row of the table should contain the following items: 1. The month number (beginning with 1) (Month) 2. The current total balance owed (Starting Balance) 3. The interest owed for that month (Interest to Pay) 4. The amount of principal owed for that month (Principal to Pay) 5. The payment for that month (Payment) 6. The balance remaining after payment (Ending Balance) • The amount of interest for a month is equal to balance * rate / 12. • The amount of principal for a month is equal to the monthly payment minus the interest owed. Input: Enter purchase price of 1000.00

The credit plan at TidBit Computer Store specifies a 10% down payment and an annual interest rate of 12%. Monthly payments are 5% of the listed purchase price, minus the down payment. Write a program in python that takes the purchase price as input. The program should display a table, with appropriate headers, of a payment schedule for the lifetime of the loan. Print a payment schedule for a loan to purchase a laptop. Each row of the table should contain the following items: 1. The month number (beginning with 1) (Month) 2. The current total balance owed (Starting Balance) 3. The interest owed for that month (Interest to Pay) 4. The amount of principal owed for that month (Principal to Pay) 5. The payment for that month (Payment) 6. The balance remaining after payment (Ending Balance) • The amount of interest for a month is equal to balance * rate / 12. • The amount of principal for a month is equal to the monthly payment minus the interest owed. Input: Enter purchase price of 1000.00

Programming Logic & Design Comprehensive
Programming Logic & Design Comprehensive
9th Edition
ISBN:9781337669405
Author:FARRELL
Publisher:FARRELL
Chapter4: Making Decisions
Section: Chapter Questions
Problem 16RQ
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The credit plan at TidBit Computer Store specifies a 10% down payment and an annual interest rate of 12%.
Monthly payments are 5% of the listed purchase price, minus the down payment.
Write a program in python that takes the purchase price as input.
The program should display a table, with appropriate headers, of a payment schedule for the lifetime of the loan. Print a payment schedule for a loan to purchase a laptop.

Each row of the table should contain the following items:
1. The month number (beginning with 1) (Month)
2. The current total balance owed (Starting Balance)
3. The interest owed for that month (Interest to Pay)
4. The amount of principal owed for that month (Principal to Pay)
5. The payment for that month (Payment)
6. The balance remaining after payment (Ending Balance)
• The amount of interest for a month is equal to balance * rate / 12.
• The amount of principal for a month is equal to the monthly payment minus
the interest owed.
Input: Enter purchase price of 1000.00

Input: Enter purchase price of 1000.00 Output: Enter the puchase price: 1000.0 Month Starting Balance Interest to Pay Principal to Pay Payment Ending Balance 1. 9.00 8.64 8.28 7.91 7.54 7.16 679 6.40 6.02 5.63 5:23 4.84 4,43 4.03 3.62 3:21 2.79 2.37 1.94 1.51 1.07 0.63 0.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45,00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 19.02 864.00 827.64 790.92 753.83 716.36 678.53 640,31 601.72 562.73 523.36 483.59 443.43 402.86 361.89 320.51 278.72, 236.50 193.87 150.81 107.32 63.39 19.02 0.00 2, 864.00 827.64 36.36 36.72 37.09 37.46 37.84 38.21 38.60 38.98 39.37 39:77 40,16 40.57 40,97 41,38 41 79 42.21 42.63 43.06 43.49 43.93 44,37 19.02 4 753.83 716.36 678.53 640.31 601.72 562.73 523.36 483.59 443.43 402.86 361.89 320.51 278.72 236.50 193.87 150.81 107.32 63.39 19.02 9. 6. 10 11 12 13 14 15 16 17 18 19 28 21 22 23 Your Ending Balance should be zero.
Transcribed Image Text:Input: Enter purchase price of 1000.00 Output: Enter the puchase price: 1000.0 Month Starting Balance Interest to Pay Principal to Pay Payment Ending Balance 1. 9.00 8.64 8.28 7.91 7.54 7.16 679 6.40 6.02 5.63 5:23 4.84 4,43 4.03 3.62 3:21 2.79 2.37 1.94 1.51 1.07 0.63 0.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45,00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 19.02 864.00 827.64 790.92 753.83 716.36 678.53 640,31 601.72 562.73 523.36 483.59 443.43 402.86 361.89 320.51 278.72, 236.50 193.87 150.81 107.32 63.39 19.02 0.00 2, 864.00 827.64 36.36 36.72 37.09 37.46 37.84 38.21 38.60 38.98 39.37 39:77 40,16 40.57 40,97 41,38 41 79 42.21 42.63 43.06 43.49 43.93 44,37 19.02 4 753.83 716.36 678.53 640.31 601.72 562.73 523.36 483.59 443.43 402.86 361.89 320.51 278.72 236.50 193.87 150.81 107.32 63.39 19.02 9. 6. 10 11 12 13 14 15 16 17 18 19 28 21 22 23 Your Ending Balance should be zero.
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