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Montano1993 [528]
3 years ago
5

You can purchase an item you need for a project for $10,000 and it has daily operating costs of $500, or you can lease the item

for $700 per day. On which day will the purchase cost be the same as the lease cost?
Business
1 answer:
aleksandr82 [10.1K]3 years ago
3 0

Answer:

On the 50th day, the purchase cost will be equal to the lease cost

Explanation:

Given that:

  • Daily operating costs of $500
  • Purchasing cost for the item:  $10,000
  • Lease amount: $700

Let x is the number of days the purchase cost be the same as the lease cost. As we now that:

The total cost should be equal to the total lease received

<=> 10,000 + 500x = 700x

<=> 200x = 10000

<=> x = 50

Hence, on the 50th day, the purchase cost will be equal to the lease cost

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