Understand and use exponential growth and decay; use in modelling (examples may include the use of in continuous compound interest, radioactive decay, drug concentration decay, exponential growth as a model for population growth); consideration of limitations and refinements of exponential models.
Students may be asked to find the constants used in a model.
They need to be familiar with terms such as initial, meaning when .
They may need to explore the behaviour for large values of or to consider whether the range of values predicted is appropriate.
Consideration of an improved model may be required.