12

Software Requirements Specification (SRS) for Savings Account Interest Calculator

Introduction

Purpose:

The purpose of this document is to define the requirements for the development of a Savings Account Interest Calculator. This web-based application aims to calculate the interest earned on savings account balances over a specified period.

Scope:

The Savings Account Interest Calculator will provide users with an interface to input details such as the initial savings account balance, interest rate, and duration. The application will calculate and display the interest earned over the specified period.

System Overview

System Description:

The system will be a client-server application. Users will access the Savings Account Interest Calculator through a web browser. The server will handle the logic for interest 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 Savings Account Interest:

  • Users can input details such as initial savings account balance, interest rate, and duration.
  • The system will calculate and display the interest earned on the savings account balance over the specified period.

Functional Requirements:

Input:

The system shall allow users to enter the following details:

  • Initial Savings Account Balance (Decimal)
  • Annual Interest Rate (Decimal)
  • Duration (in months or years)

Calculation:

  • The system shall calculate the interest earned on the savings account balance based on standard parameters and user-input details.

Output:

  • The system shall display the calculated interest earned to the user.

External Interface Requirements

User Interfaces:

  • The user interface shall consist of input fields for the initial savings account balance, annual interest rate, and duration, along with a “Calculate” button.
  • The calculated interest earned 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 interest 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 interest calculations based on the entered details.

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 initial savings account balances, interest rates, and durations to ensure accurate interest calculations.

Test Case 1:

  • Inputs: Initial Savings Account Balance = 10,000 INR, Annual Interest Rate = 3%, Duration = 12 months.
  • Expected Output: Interest Earned ≈ 300 INR.

Test Case 2:

  • Inputs: Initial Savings Account Balance = $5,000, Annual Interest Rate = 2.5%, Duration = 24 months.
  • Expected Output: Interest Earned ≈ $255.

Test Case 3:

  • Inputs: Initial Savings Account Balance = 20,000 INR, Annual Interest Rate = 4%, Duration = 6 months.
  • Expected Output: Interest Earned ≈ 400 INR.

Acceptance Criteria:

The application is considered successful if it produces correct interest calculations 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:

SavingsAccountInterest_Calculator_Records:

  • RecordID (Primary Key, Auto-increment)
  • InitialSavingsAccountBalance (Decimal)
  • AnnualInterestRate (Decimal)
  • Duration (Integer)
  • InterestEarned (Decimal)
  • CalculationDate (DateTime)

Conclusion

This SRS document outlines the requirements for the Savings Account Interest 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.

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