The exponential growth formula is a mathematical function that represents exponential growth. Exponential growth is observed when the growth rate of a mathematical function is directly proportional to the function's current value, leading to an increase in its value over time. This growth pattern can be best described as an exponential function . Simply put, when the growth of a function accelerates rapidly in relation to the increase in the total number, it is termed as exponential.
What is the exponential growth formula?
The exponential growth formula is P(t) = P0 e^rt, where P(t) is the amount of some quantity at time t, P0 is the initial amount at time t=0, r is the growth rate, e is Euler’s number.
What is an example of exponential growth?
An example of exponential growth is population growth. If the population of a country is 5 million and grows at an annual rate of 4%, the population in 15 years will be approximately 9.11059 million.
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