What is the simple interest rate of a 7-month GIC that grows from $30,000 to its maturity value of $31,500?

What is the simple interest rate of a 7-month GIC that grows from $30,000 to its maturity value of $31,500?
A) 5.00%
B) 8.16%
C) 8.57%
D) 8.95%
E) 9.88%

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