Answer: 4.8%
Step-by-step explanation:
It is given that the lease factor = 0.0020
Let r be the interest rate .
To convert lease factor into interest rate, we need to multiply it by 2400.
Therefore, the interest rate for the given lease factor is given by :-
[tex]r=2400\times0.0020\\\Rightarrow\ r=4.8\%[/tex]
Therefore, 4.8% interest rate is that equivalent to the lease factor of 0.0020.
