Question: I need to borrow 200. I am given two options to repay my loan. The first one is pay the 200 plus ten additional dollars

I need to borrow 200. I am given two options to repay my loan. The first one is pay the 200 plus ten additional dollars each day it takes me to repay the loan. In the second option, the payback price goes up by 4% each day. Assume that it takes me at least eight days to repay my loan.

Which is the better deal? Does this depend on the number of days it will take me to repay the loan?

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