SOLUTION: If a Honda Prelude bought in 2000 cost $32000 and depreciates at a rate of 20% per year, and a Chevrolet Corvette bought in 1994 cost $43000 and depreciates at a rate of 15% per ye

Question 122005: If a Honda Prelude bought in 2000 cost $32000 and depreciates at a rate of 20% per year, and a Chevrolet Corvette bought in 1994 cost $43000 and depreciates at a rate of 15% per year, algebraically determine which car is worth more in 2005.
Answer by Fombitz(32388) (Show Source): You can put this solution on YOUR website!
The Honda depreciation function, H,is

The value of H for 2005 is,

The Corvette depreciation function, C,is

The value of C for 2005 is,

The Honda is worth $10,485.76 while the Corvette is worth $7195.76.
The Honda is worth $3290.00 more than the Corvette.
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