![]() The growth (or decay, as in the value of your new car over time) in each of these situations can be modeled mathematically. For example, revenue, the amount of money collected when you sell an item, depends upon the number of items sold. Other types of growth depend on quantities other than time. It is not difficult to visualize growth in the population of people on the Earth over decades and centuries or of a number of bacteria in a petri dish over minutes and hours. ![]() Populations are also dependent upon time. This type of decrease in value over time is called depreciation. Notwithstanding other variables such as vehicle damage or economic fluctuations, the value of your new car going forward will be largely dependent upon how long you’ve owned it. ![]() For example, say you purchase a brand-new car from a dealership. The value of your car begins to decline as soon as you sign the sales contract and drive the car off the lot.
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