You fall on hard times and take out a payday loan. The deal is as follows; you borrow $500 and must pay it back in 10 days. The interest charged on the loan is $10 and the lender requires a $3 loan origination fee. What is your annualized cost of credit? (Think APR)
A. Between 1% and 3%
B. More than 20%
C. Between 3% and 10%
D. Between 10% and 20%