Julie has just been accepted into Harvard and her father is debating whether he should make monthly
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Julie has just been accepted into Harvard and her father is debating whether he should make monthly lease payments of $5,000 at the beginning of each month, on her flashy apartment or to prepay the rent with a one-time payment of $56, 662. If Julie’s father earns 1% per month on his savings should he pay by month or take the discount by making the single annual payment?
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