About Exponential Growth Formula
Let us first define what exponential growth is before learning the exponential growth formula. In exponential growth, a quantity increases slowly at first before rapidly increasing. In order to calculate population growth, compound interest, and doubling time, we apply the exponential growth formula. Get the list of Maths Formulas.
Exponential Growth Formula Meaning
Exponential growth is a data pattern that illustrates an increase over time by using an exponential function to create a curve. Consider a cockroach population that grows exponentially every year, starting at 3 in the first year, then 9 in the second, 729 in the third, 387420489 in the fourth, and so on. In this example, the population is increasing by a factor of three every year. Exponents are used in the exponential growth formula, as the name implies. With exponential growth models, there are several formulas to consider. They are:
- Formula 1: f(x) = abx
- Formula 2: f(x) = a (1 + r)x
- Formula 3: P = P0 ekt
- Exponential Growth Formulas
- Formula 1: f(x) = abx
- Formula 2: f(x) = a (1 + r)x
- Formula 3: P = P00 ekt
- Where,
- a (or) P0 = Initial value
- r =rate of growth
- k = constant of proportionality
- x (or) t = time (time can be in years, days, (or) months, whatever you are using should be consistent throughout the problem).
- Note: Here, b = 1 + r ≈ ek. In exponential growth, always b > 1.
