The formula to calculate annual rent is:
\[ \text{Ra} = \text{Rm} \times 12 \]
Where:
Annual rent refers to the total amount of rent paid over the course of a year. This calculation helps in understanding the yearly expenditure on rent, which is useful for budgeting and financial planning.
Let's assume the following value:
Using the formula:
\[ \text{Ra} = 1200 \times 12 = 14400 \]
The Annual Rent is $14,400.
Let's assume the following value:
Using the formula:
\[ \text{Ra} = 850 \times 12 = 10200 \]
The Annual Rent is $10,200.