Determine the monthly payment on a car loan

Reference no: EM13723301

Acme Bank is developing a Car Loan Calculator mobile app to help customers determine the monthly payment on a car loan. The Car Loan Calculator has the following functional requirements:

FR-01: The calculator allows the user to enter values for the amount financed, the interest rate, and the term of the loan in years.

FR-02: A valid entry for amount financed must be greater than or equal to $1,000 and less than or equal to $100,000.

FR-03: A valid entry for interest rate must be greater than or equal to 2.00% and less than or equal to 10.00%.

FR-04: A valid entry for the loan term must be three, four, five, or six years.

FR-05: If all values entered are valid, the calculator computes and displays the monthly payment amount for the loan, based on the values entered by the user. The calculation uses the standard fixed-rate loan amortization formula and assumes that payments are made at the end of each month.

FR-06: If any value entered is not valid, the calculator displays an error message indicating the invalid entry and the allowable range of values for that entry.

FR-07: The calculator provides a link to the Acme Bank website.

What are some test cases that would check whether the Car Loan Calculator satisfies these requirements? Describe a test case, including the steps to be performed, the expected results, and listing the requirement(s) being tested.

Reference no: EM13723301

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