In Excel, version 2019, how do I find the present value of a tenant's lease rent? The rent amount changes each year (for that whole year, 12 payments). The lease is for 5 years. Example the first year 2023, 12 months, the rent every month, due at the beginning of the month, is $1,200. Then in 2024, the rent due at the beginning of the month is $1,260 for 12 months.