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Exponential Growth and Decay

Exponential Growth and Decay

Author: Seth Marx
Description:

To develop an understanding of exponential growth and exponential decay: how to determine which is which, and how to figure out a problem involving growth and decay.

We go over the basics of exponential growth and decay and then a couple sample problems.

Co-author: Rachel Kaplan

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Introduction to Psychology

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Tutorial

New Terms

Exponential Growth: a function or model which begins increasing at a very slow rate, then keeps growing faster and faster; functions in the form of y = P(1 + r)t

Exponential Decay: a function or model which begins decreasing at a very slow rate, then keeps declining faster and faster;  functions in the form of y = P(1 - r)t

y = P(1±r)t: the function that determines exponential growth and exponential decay; for exponential growth, use a "+", and for decay, use a "-"; P is the initial amount started with, r is the rate of growth/decay, and t is the period of time; also, remember that the t is also the x-value

Explanation of Growth and Decay

Exponential Growth Sample Problem

Exponential Decay Sample Problem