How many days would it take for $9,500 to grow to $10,000 at 7%?

A) 75
B) 188
C) 261
D) 365
E) 275

To find the number of days it would take for $9,500 to grow to $10,000 at an annual interest rate of 7%, we can use the formula for simple interest: $I=Prt$ , where $I$ is the interest earned, $P$ is the principal amount, $r$ is the annual interest rate (as a decimal), and $t$ is the time in years. We rearrange the formula to solve for $t$ : $t=\frac{I}{Pr}$ .First, we calculate the interest earned, $I=\$10,000-\$9,500=\$500$ .Next, we convert the annual interest rate to a decimal: $r=7\%=0.07$ .Then, we plug the values into the rearranged formula: $t=\frac{\$500}{\$9,500\times 0.07}=\frac{500}{665}\approx 0.7519$ years.Finally, to convert years to days, we multiply by 365: $0.7519\times 365\approx 274.44$ days, which rounds to 275 days.