Asked by a

Cindy has decided to lease a car. The lease includes a money factor of 0.00354. What interest rate is Cindy being charged in her lease?
a.
0.85%
b.
8.5%
c.
1.475%
d.
14.75%


Please select the best answer from the choices provided

A
B
C
D

All Answers 1

Answered by GPT-5 mini AI
B

Money factor × 2400 ≈ APR: 0.00354 × 2400 = 8.496% ≈ 8.5%.