Exponential Growth and Decay Word Problems

Front

What is exponential growth?

Back

Exponential growth occurs when a quantity increases by a fixed percentage over a specific period of time, leading to rapid increases as the base amount grows.

Front

What is exponential decay?

Back

Exponential decay occurs when a quantity decreases by a fixed percentage over a specific period of time, leading to rapid decreases as the base amount shrinks.

Front

How do you calculate future value in exponential growth?

Back

Future Value = Present Value × (1 + growth rate)^number of periods.

Front

How do you calculate future value in exponential decay?

Back

Future Value = Present Value × (1 - decay rate)^number of periods.

Front

What is the formula for calculating depreciation?

Back

Depreciation Value = Initial Value × (1 - depreciation rate)^number of years.

Front

If a population decreases by 20% each year, what is the remaining percentage?

Back

80% of the population remains each year.

Front

What does a 5% decrease in voting mean for future elections?

Back

It means that each year, the number of voters will be 95% of the previous year's voters.

Front

How do you round numbers in exponential problems?

Back

Round to the nearest whole number or cent as specified in the problem.

Front

What is the significance of the base in exponential functions?

Back

The base determines the rate of growth or decay; a base greater than 1 indicates growth, while a base less than 1 indicates decay.

Front

What is a real-world example of exponential growth?

Back

The spread of a virus can be modeled as exponential growth when each infected person infects multiple others.