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Unformatted text preview: 1 ECON1003/EC14C Mathematics for the Social Sciences Topic 4: Exponential and Logarithmic Functions Lecturer: Marlon Tracey 2 Objective o At the end of this topic, students should be able to: o Describe the graph of an exponential function. o Describe the natural exponential and natural logarithmic functions. o Solve exponential equations. 3 Outline o Exponential functions o Exponential and Natural logarithmic functions o Solving exponential equations o Applications 4 Motivation: Exponential Function o From the graphs it is clear that compound interest increases one’s deposit balance at a faster pace (exponentially) compared to the balance based on simple interest, which increases at a constant pace. 5 Exponential functions I o An exponential function is a function in which the variable is in the exponent. o At the left is a typical graph of an exponential function, f(x) = a x , where a is called the base and a > and a ≠ 1; and x is the exponent, which can take on any real number....
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This note was uploaded on 03/16/2011 for the course ECON 1003 taught by Professor Dr.mcdonald during the Spring '11 term at University of the West Indies at Mona.
 Spring '11
 DR.MCDONALD

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