economics
posted by cevin .
Suppose that a vegetable vendor pays 7% interest daily on a $10 loan. Then, suppose that this individual was able to save $0.50 per day by drinking less tea. Calculate the number of days it would take for the vendor to no longer need to borrow money in order to purchase $10 of vegetables (i.e. the day number on which no loan is needed).
Respond to this Question
Similar Questions

math
what formula would i use to solve for this: Loan Interest A developer needs $80,000 to buy land. He is able to borrow the money at 10% per year compunded quarterly. How much will the interest amount to if he pays off the loan in 5yrs? 
eco
Suppose a person pays $80 of annual interest on a loan that has a 5 percent annual interest rate. The loan amount is: A. $400. B. $1,600. C. $160. D. $85. 10. Suppose a loan customer is considering two alternative $22,000 loans. Loan … 
math
Suppose that a vegetable vendor pays 7% interest daily on a $10 loan. Then, suppose that this individual was able to save $0.50 per day by drinking less tea. Calculate the number of days it would take for the vendor to no longer need … 
eco,
Suppose that a vegetable vendor pays 7% interest daily on a $10 loan. Then, suppose that this individual was able to save $0.50 per day by drinking less tea. Calculate the number of days it would take for the vendor to no longer need … 
math
Suppose that a vegetable vendor pays 7% interest daily on a $10 loan. Then, suppose that this individual was able to save $0.50 per day by drinking less tea. Calculate the number of days it would take for the vendor to no longer need … 
Algebra
Wanda took out a personal loan for $16,000 at 9% simple interest. How much interest will she pay after 5 years? 
Plz Hellp
Wanda took out a personal loan for $16,000 at 9% simple interest. How much interest will she pay after 5 years? 
math
Suppose you take out a loan for 180 days in the amount of $13,500 at 11% ordinary interest. After 50 days, you make a partial payment of $1,000. What is the final amount due on the loan? 
programming
Peter decided to save money to buy a house. Enter this amount as well as the amount he will be able to save each month. He earns 0.8% interest per month while the amount is less than R70,000 and 0,7% interest per month if the amount … 
Math
A man buys a car at 25 gh cedis.he pays 20% of the cost of his own resources and takes a loan for the remainder at 2.5% simple interest per annum.calculate the total amount the man pays for the car if he pays the loan 8 years later.