Which will have a higher effective interest rate, a payday loan for $2100 due in 13 days with a fee of $110 or a payday loan for $2100 due in 11 days with a fee of $110?
A. A payday loan for $2100 due in 11 days with a fee of $110, because it has the longer period
B. A payday loan for $2100 due in 13 days with a fee of $110, because it has the shorter period
C. A payday loan for $2100 due in 11 days with a fee of $110, because it has the shorter period
D. A payday loan for $2100 due in 13 days with a fee of $110, because it has the longer period
