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Calculating sum of rent when the increment rate is after every 3 years

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    Lightbulb Calculating sum of rent when the increment rate is after every 3 years

    Hi,

    Can someone help with below requirement?

    Initial rent - $100,000 per year
    Increment after every 3 year - 5% on the current rent (i.e. 1st increment is $100,000*1.05 = $105,000; 2nd increment is $105,000*1.05 = $110,250 and so on)
    Number of years 10


    How can I get total rent amount by the 10th year which is $ 1,061,513 applying a single formula?

    Thanks,

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    Re: Calculating sum of rent when the increment rate is after every 3 years

    Hi and welcome to the forum

    With 100,000 in A1
    3 in A2 i.e. the period in years between increments
    5% in A3
    10 in A4 i.e. the term of the rent

    Formula: copy to clipboard
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    Richard Buttrey

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    Re: Calculating sum of rent when the increment rate is after every 3 years

    Hi,

    Thanks for your quick response. But the provided formula will only provide the rent rate at the last period. What I would want I total sum from year 1 to year 10.

    In the end total sum of amount would be $1,061,513

    Thanks,

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    Re: Calculating sum of rent when the increment rate is after every 3 years

    Try
    Formula: copy to clipboard
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    It returns $1,061,513 (if rounded of course). Otherwise $1,061,512.50
    Dave

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    Re: Calculating sum of rent when the increment rate is after every 3 years

    Hi,

    For the provided formula we would still need to have a table.

    Thanks,

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    Re: Calculating sum of rent when the increment rate is after every 3 years

    Quote Originally Posted by shahabazik View Post
    Hi,

    For the provided formula we would still need to have a table.

    Thanks,
    It would have helped had you mentioned that earlier since the solution simply requres a SUM() formula on the table.

    See attached
    Attached Files Attached Files

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    Re: Calculating sum of rent when the increment rate is after every 3 years

    Quote Originally Posted by shahabazik View Post
    ..........
    How can I get total rent amount by the 10th year which is $ 1,061,513 applying a single formula?

    Thanks,
    Quote Originally Posted by shahabazik View Post
    Hi,

    For the provided formula we would still need to have a table.

    Thanks,

    These seem to contradict one another. I went for single formula.

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    Re: Calculating sum of rent when the increment rate is after every 3 years

    For a table(?) approach ... like this ?

    With years in column A and this in B2 filled down ten rows.
    Formula: copy to clipboard
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    Then sum those in the 11th row rounded to 0 places.



    A
    B
    C
    D
    1
    Years
    Amounts
    Desired →
    $1,061,513
    2
    1
    $100,000.00
    3
    2
    $100,000.00
    4
    3
    $100,000.00
    5
    4
    $105,000.00
    6
    5
    $105,000.00
    7
    6
    $105,000.00
    8
    7
    $110,250.00
    9
    8
    $110,250.00
    10
    9
    $110,250.00
    11
    10
    $115,762.50
    12
    $1,061,513.00

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