I'm writing a credit card payment calculator for my Python class. The assignment is to write a definition for a calculator that figures out the monthly payment necessary to bring your balance to zero in x number of months.
The definition takes 3 parameters: initialBalance, apr, months.
As much as I can figure, the point of the assignment is to get us to use bisection method to find our answer, and I have written two other definitions that aid the assignment:
1) newBalance() - which determines the new balance after a payment is made; 2) balances() - which returns a list of balances after the payments were made;
In that light, balances()[-1] returns the final balance, so my plan of action has been to evaluate the last item in the list as equal to 0 (or at least within 0.005 of 0!) and if so, return the payment that got me there.
if the final balance is negative (I've paid too much!): payment = payment - (payment / 2); if the balance is positive (I haven't paid enough!): payment = payment + (payment / 2);
As best as I can figure it, my algorithm should eventually conclude, but it NEVER finds a close enough answer...
Here is my code, (and the Prof's testing def at the end):
def newBalance(prevBalance, apr, payment):
"""
- prevBalance: the balance on the credit card statement.
- apr: the annual percentage rate (15.9 here means 15.9%).
- payment: the amount paid this month to the credit card company.
- returns: the new balance that will be owed on the credit card
(assumes no purchases are made).
"""
interestCharge = float(((apr / 12.0) / 100) * prevBalance)
return float((interestCharge + prevBalance) - payment)
def balances(initialBalance, apr, payments):
"""
- initialBalance: the initial balance on the credit card.
- apr: the annual percentage rate (15.9 here means 15.9%).
- payments: a list of monthly payments made on the credit card.
- returns: a list giving the balance on the credit card each
month. The first number in the list is the initial
balance, the next number is the balance after the first
payment is made, and so on. Note that the length of the returned
list is len(payments) + 1.
"""
balancelist = []
balancelist.append(initialBalance)
for x in range(0, len(payments)):
balancelist.append(newBalance(balancelist[x], apr, payments[x]))
return balancelist
def findMonthlyPayment(initialBalance, apr, months):
"""
- initialBalance: the starting balance on the card.
- apr: the APR.
- months: the number of equal monthly payments you wish to
make in order to reduce the balance to zero.
- returns: the monthly payment amount needed to reduce the
balance to zero (well, "zero" to within $0.005, anyway)
in the given number of months.
"""
guess = float(initialBalance / months)
listo = months*[guess]
while True:
if abs(float(balances(initialBalance, apr, listo)[-1]) - initialBalance) < 0.006:
print "BINGO", guess ##for debugging
print balances(initialBalance, apr, listo)[-1]
return guess
else:
if float(balances(initialBalance, apr, listo)[-1]) < -0.005:
guess = guess - (guess / 2)
print "BOO", guess ##for debugging
print balances(initialBalance, apr, listo)[-1]
else:
guess = guess + (guess / 2)
print "NAY", guess ##for debugging
print balances(initialBalance, apr, listo)[-1]
listo = months*[guess]
def testFindMonthlyPayment():
answer = findMonthlyPayment(1000, 18.9, 60)
print
myString = "Monthly payment to pay off $%.2f in %d months at %.2f%% APR:"
print myString % (1000, 60, 18.9)
print "$%.2f" % answer
# Output should look approximately like this:
"""
iteration: 1 guess: 500.0 final bal: -46777.3384635
iteration: 2 guess: 250.0 final balance: -22111.7016729
iteration: 3 guess: 125.0 final balance: -9778.88327752
iteration: 4 guess: 62.5 final balance: -3612.47407985
iteration: 5 guess: 31.25 final balance: -529.269481021
iteration: 6 guess: 15.625 final balance: 1012.3328184
iteration: 7 guess: 23.4375 final balance: 241.531668687
iteration: 8 guess: 27.34375 final balance: -143.868906167
iteration: 9 guess: 25.390625 final balance: 48.83138126
iteration: 10 guess: 26.3671875 final balance: -47.5187624535
iteration: 11 guess: 25.87890625 final balance: 0.656309403241
iteration: 12 guess: 26.123046875 final balance: -23.4312265251
iteration: 13 guess: 26.0009765625 final balance: -11.387458561
iteration: 14 guess: 25.9399414062 final balance: -5.36557457885
iteration: 15 guess: 25.9094238281 final balance: -2.35463258781
iteration: 16 guess: 25.8941650391 final balance: -0.849161592282
iteration: 17 guess: 25.8865356445 final balance: -0.0964260945206
iteration: 18 guess: 25.8827209473 final balance: 0.27994165436
iteration: 19 guess: 25.8846282959 final balance: 0.0917577799204
iteration: 20 guess: 25.8855819702 final balance: -0.00233415730086
Monthly payment to pay off $1000.00 in 60 months at 18.90 APR:
$25.89
"""
Thanks for the help. Probably wouldn't have joined compsci unless everything I ever googled was on stackoverflow.
This isn't how you bisect
guess = guess - (guess / 2)
Normally you keep a low_guess and a high_guess. You try
guess = (low_guess+high_guess)/2
and then based on the result, you either set
low_guess = guess
or
high_guess = guess
and repeat
Note: In Python2, /
is integer divison if the denominator and numerator are both ints, so it's best to just make sure the initial guess
is a float
def findMonthlyPayment(initialBalance, apr, months):
"""
- initialBalance: the starting balance on the card.
- apr: the APR.
- months: the number of equal monthly payments you wish to
make in order to reduce the balance to zero.
- returns: the monthly payment amount needed to reduce the
balance to zero (well, "zero" to within $0.005, anyway)
in the given number of months.
"""
low_guess = 0
high_guess = initialBalance
guess = float((low_guess + high_guess) / 2)
listo = months*[guess]
while True:
if abs(float(balances(initialBalance, apr, listo)[-1])) < 0.006:
print "BINGO", guess ##for debugging
print balances(initialBalance, apr, listo)[-1]
return guess
elif float(balances(initialBalance, apr, listo)[-1]) < -0.005:
high_guess = guess
print "BOO", guess ##for debugging
print balances(initialBalance, apr, listo)[-1]
else:
low_guess = guess
print "NAY", guess ##for debugging
print balances(initialBalance, apr, listo)[-1]
guess = float((low_guess + high_guess) / 2)
listo = months*[guess]
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