My apologies if this has been asked before, but I cannot find it.
I was wondering if there is a way to calculate the point at which a single precision floating point number that is used as a counter will reach a 'maximum' (the point at which it is no longer able to add another value due to loss of precision).
For example, if I continuously add 0.1f to a float I will eventually reach a point where the value does not change
Yes it is possible. there is std::numeric_limits::epsilon() which defines smallest value which can increase value 1.0.
Using this you can calculate this limit for any number.
In C there is DBL_EPSILON
So in your case this goes like this: