Parking Rate Calculator

Formula

The formula to calculate the total cost of parking (TC) is:

\[ TC = HP \cdot RPH \]

Where:

$TC$ is the total cost of parking ($)
$HP$ is the number of hours parked
$RPH$ is the rate per hour for parking ($)

What is Parking Rate?

Parking rate refers to the cost incurred for using a parking space for a certain period of time. Parking rates are typically charged on an hourly basis and can vary depending on the location, time of day, and type of parking facility. Understanding the parking rate is essential for individuals who need to budget for parking expenses or for businesses that manage parking facilities.

Example Calculation

Let's assume the following values:

Number of hours parked ($HP$) = 5
Rate per hour for parking ($RPH$) = 2 $

Using the formula:

\[ TC = 5 * 2 = 10 $ \]

The total cost of parking ($TC$) is 10 $.