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    Geometric Growth

    Alternate name
    Basic definition

    Exponential growth is the increase in a quantity according to an exponential function.

    Detailed definition

    Exponential growth is the increase in a quantity N according to the law
N(t) = N_0 e^(λ t)
for a parameter t and constant λ (the analog of the decay constant), where e^x is the exponential function and N_0 = N(0) is the initial value. Exponential growth is common in physical processes such as population growth in the absence of predators or resource restrictions (where a slightly more general form is known as the law of growth). Exponential growth also occurs as the limit of discrete processes such as compound interest.

    Educational grade level

    college level (AP calculus AB, California calculus standard)

    Associated person

    Thomas Malthus

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