Money factor is the method for determining the financing charges. The interest rate for a money factor of 0.00027 is 0.65%.
<h3>What is the money factor?</h3>The money factor is the method for determining the financing charges on a lease with monthly payments. It is given by the formula,
As it is given that the money factor is 0.00027, therefore, substituting the value we will get,
Hence, the interest rate for a money factor of 0.00027 is 0.65%.
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