Last updated on October 08, 2024

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To calculate the Money Factor from APR, you use the provided APR value.

The formula for Money Factor is:

$$\text{Money Factor} = \frac{\text{APR}}{2400}$$

Let's say the APR is 6%.

$$\text{Money Factor} = \frac{6}{2400} = 0.0025$$

So, the Money Factor for an APR of 6% is 0.0025.

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