Bob is thinking about leasing a car. the lease comes with an interest rate of 8%. determine the money factor that will be used to calculate bob’s payment. a. 0.00033 b. 0.00192 c. 0.00333 d. 0.01920

 c. 0.00333

Step-by-step explanation:

We know that "Lease is the number of months someone will be leasing and money factor is the finance charge that are generally expressed as a decimal or fraction.".

The given interest rate 'i' = 8%

To calculate the money factor we divide the interest rate by 2400.

i.e.

Hence, the money factor for a leasing a car with an interest rate of 8%. =  0.00333.

justin bieber ml.