Exponential growth is a pattern of data that shows greater increases with passing time, creating the curve of an exponential function.
Exponential growth occurs when the instantaneous rate of change of a quantity with respect to time is proportional to the quantity itself.
Formula to calculate exponential growth.
a = initial amount.
r = growth rate as a decimal.
x = number of time intervals passed.
Example:
Suppose the growth rate of a population was 10% after a period of 5 years, find the exponential growth if the initial population was 500,000.
Thus, the population would have grown to 805,255.
