I have one data set of rentals. It has one rent field (numeric). This data belongs to residential properties. Generally, there is escalation in rent every year by 3 %. I have to calculate what will be the rent after certain (dynamic field) years.
Note: If a lease is started in 2012 then difference in years from todays date is 8 (2020-2012). Therefore, we have to increase rent 8 times by 3% every year. This way will get todays rent. I am unable to find the solution. Please help!
3 answers
Hi @Prableen Singh -
I might be too simplifying the problem, if you just want to know what the rate rent x number of year, isn't it as simple as writing the following formula
A = P(1 + rt)
- A = Total Accrued Amount (starting + increase)
- P = Lease rate
- r = Rate of increment per year in decimal; r = R/100
- t = Time Period in years
