At Westonci.ca, we connect you with the answers you need, thanks to our active and informed community. Experience the ease of finding accurate answers to your questions from a knowledgeable community of professionals. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.
Sagot :
The interest rate Cindy will be charged with money factor 0.00354 is approximately 8.5% which is option b.
Given The factor included in lease is 0.00354.
Interest is the amount that a bank or person who gives loan charges from loan taker.
Money factor is a method for finding the financing charges on a lease with monthly payments. The money factor can be translated into the annual percentage rate by multiplying the money factor by 2400.
Money factor=0.00354.
So the interest rate that Cindy will charge is equal to 2400*0.00354
The interest rate Cindy will be charged =8.496%
=8.5%
Hence the interest rate charged is approximately 8.5%.
Learn more about interest at https://brainly.com/question/2151013
#SPJ4
Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.
