compound increase/decrease interest

Question

I have two cars to choose from car 1 initial value is 15000 and decreases by 5% per year and car 2 initial value is 11000 and decreases by 1.2% per quarter year for each car at 3, 8 and 10 years what will be the value for each and which car is the better option to choose.

Answer 1

1) 15000 (0.95)^t

2) 11000 (0.988)^t

Substitute 3, 8, and 10 for t in each and compare.