Charter Cost Calculator

Formula

The formula to calculate the Charter Cost (CHRC) is:

\[ CHRC = DR \times T \]

Where:

$CHRC$ is the Charter Cost ($)
$DR$ is the daily charter rate ($/day)
$T$ is the total length of the charter (days)

What is Charter Cost?

Charter Cost refers to the total cost of hiring a charter service, calculated by multiplying the daily charter rate by the total length of the charter. This metric is useful for budgeting and planning trips that involve charter services.

Example Calculation

Let's assume the following values:

Daily Charter Rate (DR) = $500 per day
Total Length of Charter (T) = 7 days

Using the formula to calculate the Charter Cost (CHRC):

\[ CHRC = DR \times T = 500 \times 7 = 3500 \text{ dollars} \]

The Charter Cost (CHRC) is $3500.