Show me the steps to solve Mark found two feasible options for an apartment to rent for the next $2$ years. Option A requires monthly rent of $$1,300$ to be paid at

the beginning of each month. Option B allows for end$-$of$-$month rent payments of $$1,300($same amenities as in option A$).$ Mark uses a

fairly high annual discount rate of $24\%($sadly$,$ he is also a high credit risk$).$

Find the PV of the future rent payments for both options over the $2-$year time period and explain which one Mark will prefer, if he

bases his decision strictly on cash flow. $($Round present value factor calculations to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answers to $2$

decimal places e$.$g$.5,125\mathrm{.}36.)$

Click here to view the factor table

Mark would choose

$,$ because he would effectively be paying

in rent over this two$-$year period.