Technical Math: Exponential Terms

 

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Relevant Material: "Exponential terms have many real-world applications, including modeling population growth, compound interest, and radioactive decay. They are also used in the pH and Richter scales to quantify acidity and earthquake magnitude, respectively, as well as in fields like finance, medicine, and physics. 
Finance 
  • Compound interest: Exponential functions are used to calculate how investments grow over time, especially with compound interest, which can be represented by the formula
    A=Pertcap A equals cap P e raised to the r t power
    .
  • Depreciation: The value of assets like cars can be modeled using exponential decay to show how their value decreases over time. 
Science and medicine 
  • Population growth: The growth of populations, from bacteria to human populations, can be modeled using exponential functions, especially when a population doubles at a constant rate.
  • Radioactive decay: The rate at which radioactive isotopes decay over time is an example of exponential decay, used in carbon dating and other applications.
    • Epidemiology: The spread of a disease in a pandemic is often modeled using exponential growth. Medicine: The amount of a drug in the bloodstream can decrease exponentially over time.
 Scales: The Richter scale for earthquakes and the pH scale for acidity use exponential functions, meaning a single unit increase represents a tenfold increase in intensity or acidity. For example, an earthquake with a magnitude of 6 is ten times stronger than one with a magnitude of 5..." (Google)

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