Reginald is about to lease an apartment for 18 months. The landlord wants him to make the lease payments at the start of the month. The monthly payments are $1,100 per month. The landlord says he will allow Reg to prepay the rent for the entire lease with a discount. The one-time payment due at the beginning of the lease is $18,984 What is the implied monthly discount rate for the rent? If Reg is earning 0.3% on his savings monthly, should he pay by month or make the one-time payment?