Algebra-1

In an exponential function of the form f(x) = a ⋅ bx:

If b > 1, the function models exponential growth, where the output increases rapidly as x increases.

If 0 < b < 1, the function models exponential decay, where the output decreases as x increases.

The term (1 + r)^t  indicates that the amount grows by a factor of 1...