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My council offers two options to pay my annual council rates 1. Pay $2,435.85 on 31st August 2020 2. Pay $1,224 on 31st August 2020

My council offers two options to pay my annual council rates

1. Pay $2,435.85 on 31st August 2020

2. Pay $1,224 on 31st August 2020 and pay $1,223.84 on 31st October 2020

If I take the second option what interest rate are

they charging me over the two months?

What is this as an APR per annum rate?

To answer think about the net cash flow of taking option 2.

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