Determine the money factor for a lease with an interest rate of 9%.
2 answers:
Answer: a. 0.00375
Step-by-step explanation:
Lease is the number of months anybody will be leasing.
Money factor is the finance charge that are commonly expressed as a decimal or fraction.
<em>To calculate the money factor we need to divide the interest rate by 2400.</em>
Therefore, if interest rate = 9%
then, the money factor =
Hence, the money factor for a lease with an interest rate of 9%. = 0.00375
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Answer:
B
Step-by-step explanation:
y = is the equation of a horizontal line parallel to the x- axis.
A line perpendicular to it will be a vertical line parallel to the y- axis with equation
x = c
where c is the value of the x- coordinates the line passes through.
The line passes through (- 6, - 9 ) with equation
x = - 6 → B