Sorry I am wrong Hail you Bacterius.
K pretty much i thought i had everything aced and ready, but then i found out about a whole other section of stuff i don;t know. for example this question which counts for most fo the grade on the test:
"Timber increases in value (appreciates) by 2% each year. If a consignment of timber is currently worth $100 000:
a). Express the value of the timber, P dollars, as a function of time, t, where t is the number of years from now.
b). What will be the value of timber in 10 years?
....can someone explain wtf? this all means?
Chill, man, your life's not gonna end because you fail an assignment. And, if you fail it, think of it as something that had to happen somehow.
Think about it : what is 2% of $100000 ? Isn't that ? So the first year we get , right ? Now take this result as a number and apply the idea again. You should find a general formula that will give you the value of timber given the years from now And then question b) is basically pluggin' in the number.
PS : please avoid the F word ... there are all-age people on this forum and we don't necessarily need to see this.
PS2 : by the way Awsom Guy, your answer is wrong. This doesn't take into account the increasing value of T and thus the increasing value of 2% of T.
Let us define 2% of a number as . The increase of a number of 2% can be defined as . Now consider the first year : we increase $100000 by 2%, therefore the new price will be :
Consider the second year : we increase the actual price by 2% again :
Can you spot the pattern ? Why should it stop ? (always check up to three consecutive cases though, I'm lacking time here). Your general rule becomes that the price of timber T in function of the number of years P is given by the formula :
Let's check results :
And you are all good to check for P = 10. Maths is cool eh
PS : what I wrote is correct by the way, and I guarantee it.