Writing Exponential Decay Functions for Percent Decrease Situations

The video tutorial explains exponential growth and decay, focusing on how change factors greater than 1 indicate growth, while those between 0 and 1 indicate decay. It illustrates how growth factors double quantities and decay factors reduce them. The tutorial details calculating decay factors from percent decreases, using examples like population decline and car depreciation to demonstrate the process. It concludes with forming exponential decay equations to model these situations.

What does it mean when we say a car depreciates by 15% per year?

How do you write an exponential decay function for a situation involving a percent decrease?