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
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!!!!!