The equation for exponential decay is given as y = a(1 - r)^x.
<u>Explanation:</u>
The formula for original exponential decay is y = ab^x.
The growth rate (r) is determined as b = 1 + r.
The decay rate (r) is determined as b = 1 - r.
y = ab^x (Where b = 1 - r)
y = a(1-r)^x
a represents the initial value
r represents growth or decay rate
x represents the number of time intervals that have passed.
<em>For example</em>
The population of Home Town is 2016 was estimated to be 35,000 people with an annual rate of increase of 2.4%.
The equation for decay factor y = 35000(1 - 0.024)^x
y = 35000(0.976). (where x = 1)
