Final answer:
Exponential equations involve rapid growth or decay, essential in modeling various phenomena like population growth and radioactive decay.
Explanation:
An exponential equation is one with terms in the form of a where 'a' is > 0 and ≠ 1. It is characterized by rapid growth or decay. For example, the equation f(x) = 2x is exponential.
Exponential growth is represented by a positive exponent, while decay is shown by a negative exponent. The general form of exponential decay can be Y = ab, where a and b can be any value.
Exponential functions model phenomena like population growth or radioactive decay and are crucial in various fields, including finance and science.
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