Unit 6 REVIEW : Exponential Relationships (REI.C)

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What is depreciation in the context of exponential relationships?

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Depreciation refers to the reduction in the value of an asset over time, often calculated as a percentage of the asset's initial value.

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How do you calculate the value of an asset after a certain number of years of depreciation?

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Use the formula: Value = Initial Value * (1 - Depreciation Rate)^Number of Years.

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What is the formula for exponential growth?

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The formula for exponential growth is: Value = Initial Value * (1 + Growth Rate)^Number of Years.

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What is a monomial?

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A monomial is a polynomial with only one term, which can be a constant, a variable, or a product of constants and variables.

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What is the difference between exponential growth and exponential decay?

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Exponential growth occurs when a quantity increases by a fixed percentage over time, while exponential decay occurs when a quantity decreases by a fixed percentage over time.

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How do you find the approximate value of an investment after a certain number of years with a fixed growth rate?

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Use the formula: Future Value = Present Value * (1 + Growth Rate)^Number of Years.

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What is the significance of the base in an exponential function?

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The base determines the rate of growth or decay; a base greater than 1 indicates growth, while a base between 0 and 1 indicates decay.