The lower straight line represents the linear increase and the upper bowed curve represents the exponential increase. Now we shall examine the differences displayed with the functions in our example above in a coordinate system. The interest and thus also the function are exponentials. Here we have an x-variable in the exponent. $$= initial\: capital \cdot compound\: interest^$$ $$investment \:\: after \: x \: number \: of\: years$$ However in the first case, the structure proceeds as: In this case we may note that the increase was constant each year. For example: If we have $50 000 deposited in the bank, and receive a 2 % interest annually, our investment shall increase as follows: YearĬompare that with what we would have with a linear increase (2%): Year The function need not necessarily respond like a straight line equation. A straight line is known as a linear function. These types of equations are known as functions. All types of equations containing two unknown (x and y) variables may be inserted in a coordinate system.
We have dealt with linear functions earlier.
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