Payment Factor and how does it convert to an interest rate?

[Dis-n-Pix]

I was reviewing the AKL purchase information I received from my guide and it has two "Payment Factors". One for "Direct Debit Payment Factors" and another for "Statement Payment Factors". I know if you multiple the payment factor by the dollar amount being financed you will get the monthly loan payment for either direct debit or non-direct debit (statement) payment method. But I would like to know how the payment factor is calculated, and how can it be convert to an interest rate?

For example the AKL values for 5 year financing are:

10% down payment shows the APR to be 11.00%/yr with:
Direct Debit Payment Factors = $0.0217424
Statement Payment Factors = $0.0222444

20% down payment shows the APR to be 8.99%/yr with:
Direct Debit Payment Factors = $0.0207535
Statement Payment Factors = $0.0212421

Thanks.

 

[erionm]

See this information at DVCNews.com:
http://dvcnews.com/index.php/dvc-program/financial/2351-dvc-interest-rates-rise