Finance
1. The value of a new car is $300000 and its value is $180000 after two years. It is known that the annual depreciation rate decreases gradually. If the difference of the depreciation rates of the first two years is 5%, find the depreciation rate of the first year.
2. Mr Wong deposits $20000 in a bank for two years and the interest is calculated once a year. If the annual compound interest rate is the same as the annual simple interest rate, and that the amount calculated by compound interest is $30 more than the amount calculated by simple interest, find the annual interest rate, correct to 2 decimal places.