I had 3 payment options:

1. pay everything on 11/15/18 ($3,455.30)

2. pay in 2 payments: $2,327.28 on 11/15/18 and $1,187.39 on 5/15/19

3. pay in 3 payments: $1,187.39 on 11/15/18, 2/15/19 and 5/15/19

I had $10,000 in a bank account with an APR of 6%, compounded monthly. I was deciding between paying the entire property tax ($3,455.30) on 11/15/18 or going with option #3, the 3 equal payments.

What's the APR that they're charging me on the loan? Assume monthly compounding. (please show steps)

ACCOUNT LAST YEAR'S TAX See back for explanation of taxes marked with (* ) \\:3, 348.75 \\CURRENT TAX BY DISTRICT` U Lane Education Service Dist U Lane Community College 51. 05 VALUES AS OF 01 101/2018` 141.60 REAL MARKET VALUE LAST YEAR` _THIS YEAR U Eugene School District* Eugene School District Local Option 1, 0BB. 10 LAND{ 20 0. 08 STRUCTURES 98, 481 98. 3 76 \\Education Totals :* 197. 38.9 1. ATB. B.Z TOTAL` 172, 460 270, 041 \\U. Lane County` 295, 765 River Road Water District 202. 81 .` MIS SPECIAL 450. 45 ` ASSESSED VALUE River Road Park and Rec LO MIS REAL MIKT VALUE River Road Park & Rec District 107.50 ASSESSED VALUE* 270.941 222, 063 295. 765 Lane County Public Safety LO EXEMPTIONS* 228, 725 Lane County 4 HIExtension LO TIT. TO \\3:43 TAXABLE VALUE 222, 06.3 228, 725 General Government Totals . 1, BTO. TA U Lane Community College Band !! U Eugene School District Band !1 51 . 65 360.! Bonds - Other. Totals . 412.60 MORTGAGE CO . If a mortgage company pays your taxes , this statement is for your records only . TAX PAYMENT OPTIONS Go back of statement for RE`THE `HILLS Pay BY` `Discount` in Full`THATGROTE |2:130 `THEROTE* 2018- 2018 TAXES BEFORE DISCOUNT 3. 562. 17 TOTAL TAX ( After Discount* 3, 455.30