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1 June, 09:59

If the lease factor is given as 0.0016, what interest rate is that equivalent to?

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  1. 1 June, 10:07
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    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 = (0.0016) (2400) = 3.84%

    the interest rate is 3.84%
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