C 3 Chapter 3: Exponential and Log Functions Dr J Frost (jfrost@tiffin. kingston. sch. uk) www. drfrostmaths. com Last modified: 26 th October 2015
x -2 -1 8 0 y 0. 25 ? 0. 5 ? 1 2 1 ? 2 ? 4? 3 8? 6 This is known as an exponential function. It is useful for modelling things like: population growth/savings with compound interest. ? 4 2 -2 -1 1 -2 -4 -6 2 The key property of exponential growth is that: 3 the output 4 gets multiplied 5 6 by some 7 constant each time the input increases (by a unit). e. g. A rabbit population might get 40% larger each year. ? This is in contrast to linear growth where we add some constant each time. Click to Brosketch
Gradients of Exponential Functions Function Gradient > > > Can you estimate the base of the exponential function where the gradient function is the same as the function itself?
“The” Exponential Function Gradient > > >
Bernoulli’s Compound Interest Problem (This won’t be examined) You have £ 1. If you put it in a bank account with 100% interest, how much do you have a year later? What if the interest is split into 2 instalments of 50% interest, how much will I have? What about 3 instalments of 33. 3%? And so on… No. Instalments Money at Maturity ? ? ?