Exponential functions model growth and decay when the rate of change depends on the current value. They are written as f(x) = b^x, where b is a positive constant and not equal to 1. When the base b is greater than 1, the function shows growth. When 0 < b < 1, the function shows decay.
These models are useful in many real situations. They can describe bacterial proliferation, radioactive substance decay, and the depreciation of assets. In each case, the change is proportional to the...