Log Functions in the Real World

Question

Jess wants to buy a car but she cannot decide if she should buy a Honda or a Kia. The Honda costs $16,000 and depreciates at an annual rate of 8%. The Kia costs $12,000 and depreciates at an annual rate of 12%. What will each car be worth in 5 years? In 10 years? Which car should she buy and why?

Answer 1

H(t) = 16000(0.92)^t

K(t) = 12000(0.88)^t

Can you substitute 5 and 10 for t, compute, and answer?