Exponential Growth and Decay
Ever wonder how your money grows in a bank or how populations increase over time? That's exponential growth in action! The basic form is y = a·b^x, where 'a' is your starting value and 'b' is the growth factor.
For practical applications, we often use y = a1+r^x, where 'r' is the rate of growth or decay (negative for decay). When dealing with money, we use the compound interest formula: A = P1+r/n^nt, where P is principal, r is rate, n is compounding frequency, and t is time.
Half-life problems (like radioactive decay) use the formula y = a(0.5)^x, where x represents the number of half-lives that have passed.
💡 How to tell if a relationship is exponential: Look at the pattern of change! If values are being multiplied by the same factor each time (like 2, 4, 8, 16...), it's exponential. If they increase by the same amount (like 2, 4, 6, 8...), it's linear.
When graphing exponential functions, remember they're transformations of parent functions like y = b^x. The domain is all real numbers, and the range is y > 0, with the x-axis y=0 as an asymptote.