Reginald is about to lease an apartment for

30

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

$33,886.

What is the implied monthly discount rate for the rent? If Reg is earning

0.8%

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?

nothing%

(Round to two decimal places.)