How much should Scott's dad invest in a savings account today, to be able to pay for Scott's rent for the next four years, if the rent is $750, payable at the beginning of each month? The savings account earns 3.87% compounded monthly. Round to the nearest cent A contract requires lease payments of $700 at the beginning of every month for 8 years. a. What is the present value of the contract if the lease rate is 6.30% compounded annually? Round to the nearest cent b. What is the present value of the contract if the lease rate is 6.30% compounded daily? Round to the nearest cent