Can someone explain the exponential growth formula in layman's terms? I really need the help understanding the concept, any help will be greatly appreciated! :)

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Can someone explain the exponential growth formula in layman's terms? I really need the help understanding the concept, any help will be greatly appreciated! :)

Algebra
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ok say...i have some amount of money deposited in a bank collecting interest given time the amount will "exponentially increase" because interest is based on how much money i have since each year my money will increase, as time increases, interest exponentially increases. example 2. bacterial growth...say you start off with 1 colony of bacteria, given enough time/resources, it will exponentially grow
hmm that makes sense, but what I can't figure out is how to apply that to the formula A=A\[_{0}\]^rt
|dw:1352091524486:dw|

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sorry about the sloppiness :)
Ao = initial amount, r = rate, t = time e = natural logarithm
so say given a scenario...i have $1000 deposited at a rate of 7% interest per year, how much will i have in 100 years
I had a problem understanding "after year 2003" or whatever year it may be in a "problem"... they say to input t=0 ..... why does t=zero?
^have... not had lol
t = 0 for initial time im assuming
One sec.. I will write the problem for you to see..
The exponential model |dw:1352091910349:dw| describes the population, A, of a country in millions, t years after 2003. .... use the model to determine when the population of the country will be 771 million.
is that an rt?
the 0.026 = r
oh ok
lol sorry it's very sloppy
t = 0 for 2003 because that is the initial population, the 642 million
for any years after 2003, you would do say 2008, 2008-2003 = 5, to t = 5
OH hmm that makes plenty of sense... my professor does not do a good job at explaining things lol
np hope it helped
so it's zero because it's the initial right? just making sure I understand lol
it's zero because you are given the initial population at year 2003 remember Ao = 642 million, so if t is any value but 0 for 2003, you would get a different number for Ao, which wouldn't be the case :)
Okie dokie! Thanks... I really appreciate the help. :)
Your awesome.. I'm looking at my homework and now I understand it. lol
sometimes just takes another perspective in things to understand :)

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