Enter the monthly rent ($) into the calculator to determine the Guarantor Annual Income Required.
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Guarantor Annual Income Required Formula
The following formula is used to calculate the Guarantor Annual Income Required.
GAI = MR * 12 * 3
- Where GAI is the Guarantor Annual Income Required ($/year)
- MR is the monthly rent ($)
How to Calculate Guarantor Annual Income Required?
The following example problems outline how to calculate Guarantor Annual Income Required.
Example Problem #1:
- First, determine the monthly rent ($). In this example, the monthly rent ($) is given as 1300.
- Finally, calculate the Guarantor Annual Income Required using the equation above:
GAI = MR * 12 * 3
The values given above are inserted into the equation below:
GAI = 1300 * 12 * 3 = 46,800 ($/year)
Example Problem #2:
The variables needed for this problem are provided below:
monthly rent ($) = 1800
Entering these values and solving gives:
GAI = 1800 * 12 * 3 = 64,800 ($/year)
