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You can choose between the following rent payments; you are the tenant in the apartment: a. 4 quarterly payments of $3,300 each, first occurring at

You can choose between the following rent payments; you are the tenant in the apartment:

a. 4 quarterly payments of $3,300 each, first occurring at the end of the quarter.

b. 12 monthly payments of $1,100 each, the first occurring at the end of the month

Which rental payment scheme would you choose if the interest rate was 5% APR with monthly compounding? What is the difference between the two options in today's dollars?

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