This document discusses exponential functions and their real-world applications. It defines exponential functions as functions of the form f(x) = bx, where b is the base. Exponential functions can model situations involving population growth, radioactive decay, compound interest, and other phenomena where change occurs at a constant rate. The document provides examples of using exponential functions to model population growth over time, radioactive decay based on half-life, and compound interest on an investment over multiple years.