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mortgage solution
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‎Work/mortgage.py‎

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# mortgage.py
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#
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# Exercise 1.7
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print('Exercise 1.7')
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principal = 500000.0
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rate = 0.05
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payment = 2684.11
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total_paid = 0.0
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while principal > 0:
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principal = principal * (1 + rate / 12) - payment
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total_paid = total_paid + payment
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print('Total paid', total_paid)
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print('\n')
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# Exercise 1.8
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"""
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Suppose Dave pays an extra $1000/month for the first 12 months of the mortgage?
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Modify the program to incorporate this extra payment and have it print the total amount paid along with the number of
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months required.
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When you run the new program, it should report a total payment of 929,965.62 over 342 months
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"""
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print('Exercise 1.8')
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principal = 500000.0
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rate = 0.05
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payment = 2684.11
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total_paid = 0.0
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for _ in range(12):
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principal = principal * (1 + rate / 12) - (payment + 1000.0)
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total_paid = total_paid + (payment + 1000.0)
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while principal > 0:
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principal = principal * (1 + rate / 12) - payment
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total_paid = total_paid + payment
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print('Total paid', total_paid)
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print('\n')
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# Exercise 1.9
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"""
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Modify the program so that extra payment information can be more generally handled. Make it so that the user can set
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these variables:
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extra_payment_start_month = 61
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extra_payment_end_month = 108
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extra_payment = 1000
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Make the program look at these variables and calculate the total paid appropriately.
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How much will Dave pay if he pays an extra $1000/month for 4 years starting in year 5 of the mortgage?
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"""
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print('Exercise 1.9')
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principal = 500000.0
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rate = 0.05
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payment = 2684.11
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total_paid = 0.0
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# extra_payment_start_month = (4 * 12) + 1 # starting of year 5
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# extra_payment_end_month = extra_payment_start_month + (4 * 12)
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extra_payment_start_month = 61
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extra_payment_end_month = 108
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extra_payment = 1000
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month = 1
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while principal > 0:
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principal = principal * (1 + rate / 12) - payment
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total_paid = total_paid + payment
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if extra_payment_start_month <= month <= extra_payment_end_month:
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principal = principal - extra_payment
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total_paid = total_paid + extra_payment
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month += 1
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print(f'Total paid in {month} months: {total_paid}')
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print('\n')
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# Exercise 1.10
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"""
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Modify the program to print out a table showing the month, total paid so far, and the remaining principal.
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The output should look something like this:
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1 2684.11 499399.22
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2 5368.22 498795.94
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3 8052.33 498190.15
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4 10736.44 497581.83
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5 13420.55 496970.98
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...
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308 874705.88 3478.83
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309 877389.99 809.21
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310 880074.1 -1871.53
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Total paid 880074.1
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Months 310
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"""
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print('Exercise 1.10')
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principal = 500000.0
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rate = 0.05
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payment = 2684.11
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total_paid = 0.0
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# extra_payment_start_month = (4 * 12) + 1 # starting of year 5
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# extra_payment_end_month = extra_payment_start_month + (4 * 12)
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extra_payment_start_month = 61
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extra_payment_end_month = 108
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extra_payment = 1000
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month = 1
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while principal > 0:
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principal = principal * (1 + rate / 12) - payment
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total_paid = total_paid + payment
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if extra_payment_start_month <= month <= extra_payment_end_month:
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principal -= extra_payment
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total_paid += extra_payment
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print(f'{month} {round(total_paid, 2)} {round(principal, 2)}')
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month += 1
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print('\n')
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# Exercise 1.11
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"""
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While you’re at it, fix the program to correct for the overpayment that occurs in the last month.
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"""
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print('Exercise 1.11')
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principal = 500000.0
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rate = 0.05
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payment = 2684.11
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total_paid = 0.0
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# extra_payment_start_month = (4 * 12) + 1 # starting of year 5
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# extra_payment_end_month = extra_payment_start_month + (4 * 12)
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extra_payment_start_month = 61
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extra_payment_end_month = 108
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extra_payment = 1000
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month = 1
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while principal > 0:
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if payment >= principal:
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payment = principal
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principal -= payment
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total_paid += payment
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print(
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f'In month {month} principal is {round(principal, 2)} because we have paid a total of '
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f'{round(total_paid, 2)} with a payment of {round(payment, 2)}'
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)
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break
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principal = principal * (1 + rate / 12) - payment
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total_paid = total_paid + payment
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if extra_payment_start_month <= month <= extra_payment_end_month:
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principal -= extra_payment
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total_paid += extra_payment
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print(
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f'In month {month} principal is {round(principal, 2)} because we have paid a total of '
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f'{round(total_paid, 2)} with a payment of {round(payment, 2)}'
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)
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month += 1
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print('\n')

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