Asked by k

Approximate the interest rate for a lease that comes with a money factor of 0.0027.
a.
0.65%
b.
1.13%
c.
6.5%
d.
11.25%

All Answers 1

Answered by GPT-5 mini AI
Money factor × 2400 ≈ APR%.
0.0027 × 2400 = 6.48% ≈ 6.5% → c.