Problemset 2: minimum payment

balance=float(raw_input('Enter the outstanding balance on the credit card '))
annualInterestRate=float(raw_input('Enter annual interest rate as a decimal '))
monthlyPaymentRate=float(raw_input('Enter minimum monthly payment rate as a decimal '))
monthlyInterestRate=(annualInterestRate)/12
minimumMonthlyPayment=0
acumulator=0

for num in range(12):
        minimumMonthlyPayment=monthlyPaymentRate*balance
        balance=(balance-minimumMonthlyPayment)*(1+monthlyInterestRate)
        acumulator=float(acumulator+minimumMonthlyPayment)
        print 'Month: '+ str(num+1)
        print 'Minimum monthly payment:  ' + str(round(minimumMonthlyPayment,2))
        print 'Remaining balance:  ' + str(round(balance,2))
   

print 'Total paid:  ' + str(round(acumulator,2))
print 'Remaining balance:  ' + str(round(balance,2))