1. 7.1 Exploring Exponential Models p434

2. Repeated multiplication can be represented by an exponential function. It has the general form where ***x has D: all real numbers

4. Ex 1) Graph

5. Ex) Determine if the function represents exponential growth or decay. State the y-intercept and the asymptote.

6. Note that b=1+r. The value b is called the growth or decay factor. The value r is called the growth or decay rate and is usually a percentage represented by a decimal.

7. Ex) You invested $1000 in a savings account at the end of the 6 th grade. The account pays 5% annual interest. How much money will be in the account after six years?

8. Ex) Suppose you invest $1000 in a savings Account that pays 5% annual interest. If you make no additional deposits or withdrawals, how many years will it take for the account to grow to at least $1500?

9. To model a discrete situation with an exponential model, you need to find b. If you know y –values for two consecutive x-values, you can find the rate of change using the formula and then b=1+r.

10. Ex) The table shows the world population of the Iberian lynx in 2003 and 2004. If this trend continues and the population is decreasing exponentially, how many Iberian lynx will there be in 2014?