The number e is an irrational number. The number e occurs frequently in applications in science, engineering, business, and others. This function is called the natural exponential function. We can use this property to solve an exponential equation. If we can write each side of an exponential equation as an exponential function with the same base, then the exponents are equal.
Compound interest is a situation that can be modeled by an exponential function.
If P dollars is deposited in an account paying an annual rate of interest r compounded m times per year, then after t years the account will contain A dollars, where A is sometimes called the future value, and P is called the present value. Predict Mexico's population in 2007 and 2034. The population of Mexico in 1980 was 67.38 million. The population of Mexico in 2007 will be about 134.74 million. The population of Mexico in 2034 will be about 269.46 million.