Which will have a higher effective interest rate, a payday loan for $2500 due in 17 days with a fee of $130 or a payday loan for $2500 due in 15 days with a
fee of $130?
O A. A payday loan for $2500 due in 17 days with a fee of $130,
because it has the shorter period
O B. A payday loan for $2500 due in 15 days with a fee of $130,
because it has the longer period
C. A payday loan for $2500 due in 15 days with a fee of $130,
because it has the shorter period
O D. A payday loan for $2500 due in 17 days with a fee of $130,
because it has the longer period