Exponential Growth and Decay Word Problems

Front

What is exponential growth?

Back

Exponential growth occurs when a quantity increases by a consistent percentage over a period of time, leading to rapid increases as time goes on.

Front

What is exponential decay?

Back

Exponential decay is when a quantity decreases by a consistent percentage over time, leading to a rapid decrease as time progresses.

Front

What does it mean to depreciate?

Back

To depreciate means to reduce in value over time, often used in the context of assets like machinery or vehicles.

Front

How do you calculate the future value of an investment with exponential growth?

Back

Use the formula: Future Value = Present Value * (1 + growth rate)^number of periods.

Front

How do you calculate the future value of an asset with exponential decay?

Back

Use the formula: Future Value = Present Value * (1 - decay rate)^number of periods.

Front

What is the starting term in the function f(x) = 300(1.16)^x?

Back

The starting term is 300.

Front

If a population doubles every 3 months, how do you express this mathematically?

Back

You can express it as y = initial population * (2)^(number of periods).

Front

What is the formula for calculating attendance growth?

Back

Attendance = Initial Attendance * (1 + growth rate)^number of months.

Front

What is a growth rate?

Back

A growth rate is the percentage increase in a quantity over a specific period of time.

Front

What is a decay rate?

Back

A decay rate is the percentage decrease in a quantity over a specific period of time.