Exponential growth or decay can be modeled using an exponential function of the form:
y= P ( a) ^x
P = initial value of y
x = time or any value for x
a = multiplication factor
i. If a>1 then the function y is an exponential growth where a = 1 + r
and r is the growth rate as a decimal number.
ii. If then the function y is an exponential decay where a = 1 - r
and r is the decay rate as a decimal number.
This document discusses applied problems that relate to exponential growth or decay. The ideas have been laid out so that they are easy to follow. Questions and answers are given. Step by step solutions are also presented.