The equation for exponential decay is given as y = a(1 - r)^x.
Explanation:
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.
For example
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)
