(Solved): Gary found two feasible options for an apartment to rent for the next 2 years. Option A requires mo ...

Gary found two feasible options for an apartment to rent for the next 2 years. Option A requires monthly rent of \( \$ 600 \) to be paid at the beginning of each month. Option B allows for end-of-month rent payments of \( \$ 600 \) (same amenities as in option A). Gary 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 Gary will prefer, if he bases his decision strictly on cash flow. (Round present value foctor calculations to 5 decimal places, eg. \( 1.25124 \) and final answers to 2 decimal places eg. \( 5,125.36 \) ) Click here to view the factor table Gary would choose , because he would effectively be paying in rent over this two-year period.