Mathematics, 24.07.2019 09:00 catherine51

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

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Which will have a higher effective interest rate, a payday loan for $2100 due in 13 days with a fee...

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