Question

Car 1 cost $22,600 when new and deprecated 14% each year for 5 years. The same year, Car 2 cost 17,500 when new and deprecated 7% each year for 5 years. To the nearest dollar, what was the difference in the values of the two cars after 5 years?

Answer 1

here goes nothing lol
Car 1 depreciates $3,164 each year
Car 2 depreciates $1,225 each year
after 5 years car 1 depreciates $15,820
after 5 years car 2 depreciates $6,125
The total value of car 1 in 5 years is $7,320
The total value of car 2 in 5 years is $11,375
The difference is $4,055