Show full solution, Do not use Excel Spreadsheet, Draw cashflow diagrams where applicable

6- A group of friends are planning their retirement road trip vacation. They are considering two options for the transportation. Option one is buying a new van at a cost of $45,000 with a salvage value of $8,000 in 6 years. The new van will travel 11 km per litre of gas. Option two is buying a used RV, at a cost of $105,500 with a salvage value of $44,000 in 6 years. If they go with the RV option, they will save $190 on a daily basis on hotel and accommodations. RV's gas mileage is 9 km per litre as the vehicle is much less fuel efficient than the van. Determine how many 'days per year they need to travel for the two options to break even'? The price per litre of gas is $1.12 (for both options) and the friends are planning to travel 500km per day. The interest rate is 4% per year. (4 Marks) 6- A group of friends are planning their retirement road trip vacation. They are considering two options for the transportation. Option one is buying a new van at a cost of $45,000 with a salvage value of $8,000 in 6 years. The new van will travel 11 km per litre of gas. Option two is buying a used RV, at a cost of $105,500 with a salvage value of $44,000 in 6 years. If they go with the RV option, they will save $190 on a daily basis on hotel and accommodations. RV's gas mileage is 9 km per litre as the vehicle is much less fuel efficient than the van. Determine how many 'days per year they need to travel for the two options to break even'? The price per litre of gas is $1.12 (for both options) and the friends are planning to travel 500km per day. The interest rate is 4% per year. (4 Marks)