Lena invests \$5,000 in a simple interest account at an annual rate of 4%. Simultaneously, Gabriel invests \$5,000 in a compound interest account with an annual rate of $3.5\%$, compounded annually. Determine how many years it will take for Gabriel's compound interest account to surpass Lena's simple interest account in terms of balance.
After how many years will Gabriel's balance exceed Lena's?
Compound Interest Formula: $A=P\left(1+\frac{r}{n}\right)^{n t}$
Simple Interest Formula: $A=P(1+r t)$
A8 years
B7 years
C9 years
D10 years
After how many years will Gabriel's balance exceed Lena's?
Compound Interest Formula: $A=P\left(1+\frac{r}{n}\right)^{n t}$
Simple Interest Formula: $A=P(1+r t)$
A8 years
B7 years
C9 years
D10 years