The cost of a Frigbox refrigerator is $950 and it depreciates $50 each year. The cost of an Arctic Air refrigerator is $1200 and it depreciates $100 per year.
1. If a Frigbox and an Arctic Air are bought at the same time, when do the two refrigerators have equal value?
I know I have to make one side equal to the other, but is this using d/t? Would 950 - 50x=1200-100x? and then solve?
2. If both refrigerators continue to depreciate at the same rates, what happens to the values of the refrigerators in 20 years time? What does this mean?