Annuity due. Reginald is about to lease an apartment for 18 months. The landlord wants him to make the lease payments at the start of the month. The monthly payments are ?$1,300 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 ?22,067. What is the implied monthly discount rate for the? rent? If Reg is earning 0.5?% on his savings? monthly, should he pay by month or make the? one-time payment?
What is the implied monthly discount rate for the? rent?
?% ?(Round to two decimal? places.)