Enter the previous term rent ($) and the CPI over the past year (%) into the calculator to determine the New Rent From CPI.
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New Rent From CPI Formula
The following formula is used to calculate the New Rent From CPI.
NR = PR + PR * CPI/100
- Where NR is the New Rent From CPI ($)
- OR is the previous term rent ($)
- CPI is the CPI over the past year (%)
How to Calculate New Rent From CPI?
The following example problems outline how to calculate New Rent From CPI.
Example Problem #1:
- First, determine the previous term rent ($). In this example, the previous term rent ($) is given as 1500.
- Next, determine the CPI over the past year (%). For this problem, the CPI over the past year (%) is given as 6.
- Finally, calculate the New Rent From CPI using the equation above:
NR = PR + PR * CPI/100
The values given above are inserted into the equation below:
NR = 1500 + 1500*6/100 = 1590 ($)
Example Problem #2:
The variables needed for this problem are provided below:
previous term rent ($) = 1600
CPI over the past year (%) = 4
Entering these values and solving gives:
NR = 1600 + 1600* 4/100 = 1664 ($)
