(Answered) Julie has just been accepted into harvard and her father is

Finance

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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