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Use the article President Cordray Strikes Again - WSJ 20171005 to answer: If the $500 payday loan described in the 2nd paragraph of the article

Use the article President Cordray Strikes Again - WSJ 20171005 to answer: If the $500 payday loan described in the 2nd paragraph of the article was for a 6-month period, what would be the closest estimate of the annual effective interest rate?

A) about 30%

B) about 32%

C) about 15%

D) about 75%

E) about 17%

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