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jmc

algebra senior

Problem

Mark borrows dollars from Emily with a simple interest rate of everyday. What is the least integer number of days after which Mark will have to pay her back at least twice as much as he borrowed?
Solution
Since the interest rate is simple, he has to pay an interest of dollars every day.

Let be the number of days needed to repay at least double the amount borrowed. Since he has to repay \ in interest, we have the inequality . Solving for , we get . The smallest integer greater than is . Therefore, it would take at least .
Final answer
7 \text{ days}