Auto Rent Calculator

Formula

To calculate the Auto Rent ($AR$):

\[ AR = \left(\frac{VHR}{30} + IR\right) \times LR \]

Where:

$AR$ is the Auto Rent ($)
$VHR$ is the Monthly Vehicle Rate ($/month)
$IR$ is the Insurance Rate per Day ($/day)
$LR$ is the Length of Rental (days)

What is Auto Rent?

An Auto Rent is defined as the total cost to rent a vehicle, including the monthly vehicle rate and the daily insurance rate, over a specified rental period.

Example Calculation 1

Let's assume the following values:

Monthly Vehicle Rate ($VHR$) = $900/month
Insurance Rate per Day ($IR$) = $20/day
Length of Rental ($LR$) = 10 days

Using the formula:

\[ AR = \left(\frac{900}{30} + 20\right) \times 10 = 500 \]

The Auto Rent is $500.

Example Calculation 2

Let's assume the following values:

Monthly Vehicle Rate ($VHR$) = $1200/month
Insurance Rate per Day ($IR$) = $25/day
Length of Rental ($LR$) = 7 days

Using the formula:

\[ AR = \left(\frac{1200}{30} + 25\right) \times 7 = 595 \]

The Auto Rent is $595.