Exponential functions model growth or decay using the formula y = ab^x, where a is the initial amount, b is the growth or decay factor, and x is time. Exponential functions have many real-world applications including population growth, compound interest, radioactive decay, and the spread of diseases. The key characteristics of exponential functions are rapid growth or decay, where the rate of change is proportional to the current value.
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Notes on Exponential Functions
Exponential functions model growth or decay using the formula y = ab^x, where a is the initial amount, b is the growth or decay factor, and x is time. Exponential functions have many real-world applications including population growth, compound interest, radioactive decay, and the spread of diseases. The key characteristics of exponential functions are rapid growth or decay, where the rate of change is proportional to the current value.