Review: exponential function growth and decay

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What is an exponential function?

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Front

How do you calculate the value of an asset after depreciation?

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Front

What is the formula for exponential growth?

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Front

What is the formula for exponential decay?

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Front

If a bicycle depreciates at a rate of 15%, what is the value after 6 years if it was bought for $250?

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The value after 6 years is approximately $94.29.

Front

How do you model income growth using an exponential function?

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Front

What is the population growth formula for a population increasing at a constant rate?

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Front

How do you write an exponential function for a situation where a quantity grows by a percentage?

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Front

What does the variable 't' represent in exponential functions?

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In exponential functions, 't' represents time, usually measured in years.

Front

What is the difference between growth and decay in exponential functions?

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Growth occurs when the rate 'r' is positive, leading to an increase in value, while decay occurs when 'r' is negative, leading to a decrease in value.