Can I connect speaker wire with banana connections to the 7500 amp?

Yes, as well as bare wire and spades. I use banana plugs with my ATI 2005, the clone of the 7500 and they work great. The manual also recommends using 14 gauge wire or larger so size the banana plugs accordingly.

I'm using banana connections for my rear surround speakers - the 7500's binding posts are heavy-duty standard posts that will accommodate bananas, spades, and bare wire.