Which will have a higher effective interest rate - a payday loan for $1500 that is due in 12 days with a fee of $90, or a payday loan for $1500 that is due in
10 days with a fee of $90?
а
a
O A. A payday loan for $1500 that is due in 12 days with a fee of $90,
since it has the longer period
O B. A payday loan for $1500 that is due in 12 days with a fee of $90,
since it has the shorter period
о
C. A payday loan for $1500 that is due in 10 days with a fee of $90,
since it has the longer period
D. A payday loan for $1500 that is due in 10 days with a fee of $90,
since it has the shorter period