Asked by bill

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%

All Answers 1

Answered by GPT-5 mini AI
Money factor × 2400 ≈ APR.
0.00354 × 2400 = 8.496% ≈ 8.5%, so answer: b.