Writing Exponential Growth Functions for Percent Increase

The video tutorial explains exponential growth by interpreting percent increase as a growth factor. It uses a bacteria population example to illustrate how exponential growth occurs through repeated multiplication. The tutorial then transitions to financial examples, explaining how a 3% increase in savings is modeled as a growth factor of 1.03. It further demonstrates how to write an exponential growth equation for a savings account with 2% interest, emphasizing the importance of defining variables in such equations.

What is the significance of ordered pairs in the context of exponential growth?

Describe the relationship between the initial value and the amount of growth in an exponential growth model.

How would you define the variables in an exponential growth equation?