the use of first-order linear recurrence relations to model flat rate and unit cost, and reduce balance depreciation of an asset over time, including the rule for the future value of the asset after 𝑛 depreciation periods
U3.AoS2.6
demonstrate the use of a recurrence relation to determine the depreciating value of an asset or the future value of an investment or a loan after 𝑛 time periods for the initial sequence
U3.AoS2.4
the use of first-order linear recurrence relations to model compound interest investments and loans, and the flat rate, unit cost and reducing balance methods for depreciating assets, reducing balance loans, annuities, perpetuities and annuity investments
