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9 July, 09:49

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

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  1. 9 July, 11:59
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    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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