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Problem Set 2 - Unit 2 - Simple Programs - Problem-2

The document describes a problem to write a program that calculates the minimum fixed monthly payment needed over 12 months to pay off a credit card balance, given the balance and annual interest rate. It provides the variables, required math, and 3 test cases to check the solution against.

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hr.promosi
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45 views

Problem Set 2 - Unit 2 - Simple Programs - Problem-2

The document describes a problem to write a program that calculates the minimum fixed monthly payment needed over 12 months to pay off a credit card balance, given the balance and annual interest rate. It provides the variables, required math, and 3 test cases to check the solution against.

Uploaded by

hr.promosi
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Problem Set due Jun 23, 2023 06:30 WIB Past due

Problem 2 - Paying Debt Off in a Year


0.0/15.0 points (graded)
Now write a program that calculates the minimum fixed monthly payment needed in order pay off a credit card
balance within 12 months. By a fixed monthly payment, we mean a single number which does not change each
month, but instead is a constant amount that will be paid each month.
In this problem, we will not be dealing with a minimum monthly payment rate.
The following variables contain values as described below:
1. balance - the outstanding balance on the credit card
2. annualInterestRate - annual interest rate as a decimal
The program should print out one line: the lowest monthly payment that will pay off all debt in under 1 year, for
example:
Lowest Payment: 180

Assume that the interest is compounded monthly according to the balance at the end of the month (after the
payment for that month is made). The monthly payment must be a multiple of $10 and is the same for all months.
Notice that it is possible for the balance to become negative using this payment scheme, which is okay. A
summary of the required math is found below:
Monthly interest rate = (Annual interest rate) / 12.0
Monthly unpaid balance = (Previous balance) - (Minimum fixed monthly payment)
Updated balance each month = (Monthly unpaid balance) + (Monthly interest rate x Monthly unpaid
balance)
Test Cases to Test Your Code With. Be sure to test these on your own machine - and that you get the same
output! - before running your code on this webpage!
Problem 2 Test Cases
Be sure to test these on your own machine - and that you get the same output! - before running your code on
this webpage!
Test Cases:
1.
Test Case 1:
balance = 3329
annualInterestRate = 0.2

Result Your Code Should Generate:


-------------------
Lowest Payment: 310

2.
Test Case 2:
balance = 4773
annualInterestRate = 0.2

Result Your Code Should Generate:


-------------------
Lowest Payment: 440

3.
Test Case 3:
balance = 3926
annualInterestRate = 0.2

Result Your Code Should Generate:


-------------------
Lowest Payment: 360

1 # Paste your code into this box


2

Press ESC then TAB or click outside of the code editor to exit
Unanswered
Hints
Hint: How to think about this problem?
Start with $10 payments per month and calculate whether the balance will be paid off in a year this way (be
sure to take into account the interest accrued each month).
If $10 monthly payments are insufficient to pay off the debt within a year, increase the monthly payment by
$10 and repeat.
Hint: A way of structuring your code
If you are struggling with how to structure your code, think about the following:
Given an initial balance, what code would compute the balance at the end of the year?
Now imagine that we try our initial balance with a monthly payment of $10. If there is a balance remaining
at the end of the year, how could we write code that would reset the balance to the initial balance,
increase the payment by $10, and try again (using the same code!) to compute the balance at the end of
the year, to see if this new payment value is large enough.
I'm still confused!
A good way to implement this problem will be to use a loop structure. You may want to refresh your
understanding of while loops. Think hard about how the program will know when it has found a good
minimum monthly payment value - when a good value is found, the loop can terminate.
Be careful - you don't want to overwrite the original value of balance . You'll need to save that value
somehow for later reference!
Reminder: Only hit "Check" once per submission. We are unable to give you more than 30 checks.
Important
Only hit "Check" once per submission. You only get 30 checks per problem.
** Our automatic grader may take a few minutes to respond with feedback. If you hit "Check" multiple times, you
will lose a check for every press of the button.
** If you're unfamiliar with how our autograder works, first try out one of the infinite check problems in the
Functions lecture sequence.
** Please be judicious with your checks, as we are unable to give you more than 30 checks. However this should
be more than sufficient: if you do your code development in your local environment, and ensure you can pass our
test cases, you should not require more than a few checks once you paste your working, tested code into our
code box.
If you believe you have correct code but it is marked incorrect after clicking "Check"...
** After you submit your code, you can see every test case the graders runs on your code. They compare what
your code outputs with what our answer code is supposed to output. Click the small link titled "See Full Output"
below the Test Results header.
"Staff Debug: L397 Error" means your code has an infinite loop...
** Clicking Check may give you the error:
There was a problem running your solution (Staff debug: L379).
We couldn't run your solution (Staff debug: L397). .
This means your code is taking too long or has an infinite loop. Test your code with more unique test cases, such
as very large or very small values.
Do not define your own values
** For problems such as these, do not include input statements or define variables we told you would be given.
Our automated testing will provide values for you - so write your code in the following box assuming those
variables are already defined. The code you paste into the following box should not specify the values for the
variables balance or annualInterestRate

Submit You have used 0 of 30 attempts

Problem 2 - Paying Debt Off in a Year Hide Discussion


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