What is implied monthly discount rate for the? rent

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Reference no: EM131504248

Reginald is about to lease an apartment for 2424 months. The landlord wants him to make the lease payments at the start of the month. The monthly payments are ?$1 comma 0001,000 per month. The landlord says he will allow Reg to prepay the rent for the entire lease with a discount. The? one-time payment due at the beginning of the lease is ?$21 comma 45621,456. What is the implied monthly discount rate for the? rent? If Reg is earning 1.51.5?% on his savings? monthly, should he pay by month or make the? one-time payment?

Reference no: EM131504248

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