Explain the use of Exponents in scientific, financial, and economic applications.

Exponents and Polynomials in the Real World

The use of complex math, including exponents, is instrumental in many fields.

Exponents are used in scientific, financial, and economic applications. Such math is also used to solve problems and make predictions in your personal life as well. One important formula that requires the understanding of exponents is the present value formula. Present value, PV, is a widely used formula that calculates the present day value of an amount that is received at a future date.

The Present Value Formula is PV = FV/〖(1+r)〗^n ,where PV is the present value that will amount to FV dollars in n years at interest rate r compounded annually.

For the initial post, think of something you want or need that has a future cost between $5,000 and $90,0000.

Exponents and Polynomials in the Real World