Written by the Fiveable Content Team • Last updated September 2025
Verified for the 2026 exam
Verified for the 2026 exam•Written by the Fiveable Content Team • Last updated September 2025
Definition
Time refers to the progression of events from the past through present into the future. It is often represented as a variable in mathematical models to study how quantities change over time.
Rate of change measures how quickly one quantity changes with respect to another over a specific interval. In this case, we can analyze how assets change over time.
Dependent/Independent Variable: In mathematical models involving multiple variables, the dependent variable depends on (or is influenced by) changes in the independent variable(s). Here, A(t) would be considered dependent on time t.
An interval refers to a range between two points or values. In the context of time, we can analyze how assets change within specific intervals, such as from t=0 to t=10.