Suppose you take out a loan for $9,000, at 12% ordinary interest. If the amount of interest is $762.00, what is the time period? (Round any fraction to the next higher day) a. 254 days b. 246 days c. 258 days d. 250 days

Answer:answer is option cStep-by-step explanation:Amount = $9,000interest rate (r) = 12%interest = $762.00time = ?we know,[tex]I = \dfrac{PRT}{100}[/tex][tex]762  = \dfrac {9000\times 12\times T}{100}[/tex]t = 0.7056 yearst = 0.7056 × 365 dayst = 257.54 days  ≅ 258 dayscorrect answer is option c.