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Money Factor Calculator

Last updated on October 08, 2024
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Umesh Kumar

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Table of Contents

How to calculate Money Factor

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

The formula for Money Factor is:

Money Factor Formula:

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

Example:

Let's say the APR is 6%.

1. Apply the formula:

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

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

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