To calculate the day number on which no loan is needed

Reference no: EM13196213

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 and the day number on which no loan is needed.

Reference no: EM13196213

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