You found an apartment (A) for $1,000 per month, and they’re offering the first month for free. You also found an apartment (B) on for $915 a month (with no first month for free). The monthly interest rate is 1%. If you are planning on living there for 12 months, from a purely financial standpoint,
1. Which would you prefer? (Rent is due at the beginning of the month)
2. What if apartment A offered the last month for free (instead of the first month)?