the price of softwood changes each year the price has increased by 6% per annum for the past 5 years before this the price decreased by 2% per annum seven years ago the price of softwood was 34 per meter cubed

Guest Sep 28, 2017

So.....I assume you want to know the current price???


If so  ....after the first two years, the price was  34 (.98)^2  ≈  32.65  per m^3

[ each successive year the price was 98% = .98  of the year before]


And in the next five years   it increased  to  its current price of    32.65 (1.06)^5  ≈  43.69 per m^3

[each successive  year after the second one,  the price rose by 6%   = 1 + .06 =    1.06 ]



Thanks to the guest for spotting my earlier error....I'm not with it today....LOL!!!!!



cool cool cool

CPhill  Sep 28, 2017
edited by CPhill  Sep 28, 2017

CPhill: A slight error of transposition from $32.56 to $32.65.

Guest Sep 28, 2017

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