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?

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

Explanation:

Given that:

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

answer; whoever is willing and able to pay the price;