title: Calculating balance and monthly payments in Python loop
body: <pre><code>balance = 4213
  annualInterestRate = 0.2
  monthlyPaymentRate =0.04
  monthInterestRate = annualInterestRate / 12
  monthlyPayment = (monthlyPaymentRate*balance)
  newBalance= (balance-monthlyPayment) * (1 + monthInterestRate)
  month = 0
  while month &lt; 12:
      month += 1
      newBalance=(balance-monthlyPayment)*(1 + monthInterestRate)
      balance = newBalance
      monthlyPayment = (monthlyPaymentRate*newBalance)
  
      print ("Month: " + str(month))
      print ("Minimum monthly payment: " + str(round(monthlyPayment,2)))
      print ("Remaining balance: " + str(round(newBalance, 2)))
  </code></pre>
  
  <p>So, I have the code above and I'm trying to make it display the below output: </p>
  
  <pre><code>Month: 1
  Minimum monthly payment: 168.52
  Remaining balance: 4111.89
  Month: 2
  Minimum monthly payment: 164.48
  Remaining balance: 4013.2
  Month: 3
  Minimum monthly payment: 160.53
  Remaining balance: 3916.89
  Month: 4
  Minimum monthly payment: 156.68
  Remaining balance: 3822.88
  Month: 5
  Minimum monthly payment: 152.92
  Remaining balance: 3731.13
  Month: 6
  Minimum monthly payment: 149.25
  Remaining balance: 3641.58
  Month: 7
  Minimum monthly payment: 145.66
  Remaining balance: 3554.19
  Month: 8
  Minimum monthly payment: 142.17
  Remaining balance: 3468.89
  Month: 9
  Minimum monthly payment: 138.76
  Remaining balance: 3385.63
  Month: 10
  Minimum monthly payment: 135.43
  Remaining balance: 3304.38
  Month: 11
  Minimum monthly payment: 132.18
  Remaining balance: 3225.07
  Month: 12
  Minimum monthly payment: 129.0
  Remaining balance: 3147.67
  Total paid: 1775.55
  Remaining balance: 3147.67
  </code></pre>
  
  <p>And for some reason I keep getting the below result instead of the above... Can someone please point me to what I'm doing wrong? Thank you very much!</p>
  
  <pre><code>Month: 1
  Minimum monthly payment: 164.48
  Remaining balance: 4111.89
  Month: 2
  Minimum monthly payment: 160.53
  Remaining balance: 4013.2
  Month: 3
  Minimum monthly payment: 156.68
  Remaining balance: 3916.89
  Month: 4
  Minimum monthly payment: 152.92
  Remaining balance: 3822.88
  Month: 5
  Minimum monthly payment: 149.25
  Remaining balance: 3731.13
  Month: 6
  Minimum monthly payment: 145.66
  Remaining balance: 3641.58
  Month: 7
  Minimum monthly payment: 142.17
  Remaining balance: 3554.19
  Month: 8
  Minimum monthly payment: 138.76
  Remaining balance: 3468.89
  Month: 9
  Minimum monthly payment: 135.43
  Remaining balance: 3385.63
  Month: 10
  Minimum monthly payment: 132.18
  Remaining balance: 3304.38
  Month: 11
  Minimum monthly payment: 129.0
  Remaining balance: 3225.07
  Month: 12
  Minimum monthly payment: 125.91
  Remaining balance: 3147.67
  </code></pre>