Software Requirements Specification (SRS) for Cost of Debt Calculator

Introduction 

Purpose:

The purpose of this document is to define the requirements for the development of a Cost of Debt Calculator. This web-based application aims to calculate the true cost of borrowing, including interest rates, fees, and other associated costs.

Scope:

The Cost of Debt Calculator will provide users with an interface to input details such as loan amount, interest rate, fees, and other relevant parameters. The application will calculate and display the comprehensive cost of debt.

System Overview

System Description:

The system will be a client-server application. Users will access the Cost of Debt Calculator through a web browser. The server will handle the logic for cost of debt calculations.

System Architecture:

The application will follow a three-tier architecture: presentation layer (client-side browser), application layer (server-side processing), and data layer (storage and retrieval of data).

Functional Requirements

Use Cases:

Calculate Cost of Debt:

• Users can input details such as loan amount, interest rate, fees, and other relevant parameters.
• The system will calculate and display the comprehensive cost of borrowing, considering interest rates, fees, and associated costs.

Functional Requirements:

Input:

• The system shall allow users to enter the following details:
  • Loan Amount (Decimal)
  • Interest Rate (Decimal)
  • Fees (Decimal)
  • Other Relevant Parameters (if applicable)

Calculation:

• The system shall calculate the comprehensive cost of debt based on standard cost of debt calculation methods and user-input details.

Output:

• The system shall display the calculated comprehensive cost of debt to the user.

External Interface Requirements

User Interfaces:

• The user interface shall consist of input fields for loan amount, interest rate, fees, and other relevaData Protection parameters, along with a “Calculate” button.
• The calculated comprehensive cost of debt shall be displayed prominently.

Hardware Interfaces:

• The system should be compatible with standard computing hardware.

Software Interfaces:

• The application will be developed using HTML, CSS, and JavaScript for the frontend.
• The backend can be implemented using a server-side framework (e.g., Node.js, Django) with a database for data storage.

 Communication Interfaces:

• The application will communicate with the server for cost of debt calculations.

Performance Requirements

Response Time:

• The system should provide a response time of under 3 seconds for a typical user input.

Throughput:

• The application should handle at least 50 simultaneous users.

System Constraints

Regulatory Requirements:

• The application should comply with relevant financial regulations.

Hardware Limitations:

• The system should be compatible with devices supporting standard web browsers.

Security Requirements

Authentication:

• User authentication may be implemented for personalized features.

Data Protection:

• User data, if stored, should be securely protected.

Quality Attributes

Reliability:

• The application should provide accurate cost of debt calculations based on the entered details.

[/av_one_full]Maintainability:

• The code should be well-documented for ease of maintenance.

Usability:

• The user interface should be intuitive, requiring minimal guidance.

Testing Requirements

Test Cases:

Test cases should cover various scenarios with different loan amounts, interest rates, fees, and other parameters to ensure accurate cost of debt calculations.

Test Case 1:

• Inputs: Loan Amount = 25,000 INR, Interest Rate = 8%, Fees = 500 INR.
• Expected Output: Comprehensive Cost of Debt ≈ 27,000 INR.

Test Case 2:

• Inputs: Loan Amount = $15,000, Interest Rate = 6%, Fees = $300.
• Expected Output: Comprehensive Cost of Debt ≈ $16,200.

Test Case 3:

• Inputs: Loan Amount = 20,000 INR, Interest Rate = 7%, Fees = 800 INR.
• Expected Output: Comprehensive Cost of Debt ≈ 21,600 INR.

Acceptance Criteria:

• The application is considered successful if it produces correct comprehensive cost of debt estimates based on the provided details.

Project Timeline

Milestones:

Design, Development, Testing, Deployment

Development Phases:

Frontend development, Backend development, Testing, Deployment.

Glossary

None

Database Structure

Tables:

CostOfDebt_Calculator_Records:

• RecordID (Primary Key, Auto-increment)
• UserID (Foreign Key, if user accounts are implemented)
• LoanAmount (Decimal)
• InterestRate (Decimal)
• Fees (Decimal)
• OtherParameters (Text)
• ComprehensiveCostOfDebt (Decimal)
• CalculationDate (DateTime)

Conclusion

This SRS document outlines the requirements for the Cost of Debt Calculator. It serves as a guide for the development team and ensures that the application meets the specified criteria. Review and approval by relevant stakeholders are essential before proceeding with the development phase.