Equipment Rental Rate Calculator

Formula

To calculate the Equipment Rental Rate (ERR):

\[ ERR = \frac{CE}{TE} \]

Where:

$ERR$ is the Equipment Rental Rate ($/hr)
$CE$ is the cost of the equipment ($)
$TE$ is the hours the equipment is used (hrs)

What is Equipment Rental Rate?

The Equipment Rental Rate (ERR) is the cost per hour to rent a piece of equipment. It is calculated by dividing the total cost of the equipment by the number of hours it is used.

Example Calculation

Let's assume the following values:

Cost of Equipment (CE) = $5000
Hours of Equipment Use (TE) = 100 hrs

Using the formula:

\[ ERR = \frac{5000}{100} = 50.00 \]

The Equipment Rental Rate is $50.00 per hour.