If the lease factor is given 0.00045, what interest rate is that equivalent to

To convert the lease factor (also called as money factor) into the equivalent interest rate, we simply have to multiply it with 2,400. So we use the formula:

interest rate = 2,400 * lease factor

Therefore,

interest rate = 2,400 * 0.00045

interest rate = 1.08%               (ANSWER)

560

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1/3 + 1/5 = 8/15.

step-by-step explanation:

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