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Pachacha [2.7K]
3 years ago
9

If the lease factor is given as 0.00065, what interest rate is that equivalent to?

Business
1 answer:
mariarad [96]3 years ago
5 0
As a handy tip, we were told that in order to convert the lease factor of a certain amount or transaction to interest rate, we just have to multiply the value by 2, 400. 
                     interest rate = (0.00065)(2400) = 1.56%
Thus, the answer for this item is 1.56%. 
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