This project was created using Microsoft Access.
The most valuable assets depreciate as time passes. Amortization allows you to quantify the small losses in your financial documents. It shows the decline in the book value of an asset, which will reduce your tax-deductible income.
The database stores detailed information about each loan, including the principal amount, interest rate, loan term, start date, and payment frequency. This serves as a central repository for all loan-related data. Using the loan details, the database generates an amortization schedule outlining each payment's breakdown into principal and interest components over the loan term. This schedule helps borrowers understand their repayment obligations and plan their finances accordingly.