If I invest $1,000 at 5% annual return, I expect to have 1000 * (1.05)^n after n years. That fits my definition of exponential - time is an exponent in the formula.
My quibble was about geometrics vs exponential, but beyond the mathematical distinction of discreteness, they are equivalent, so I stand corrected on that front.
If I invest $1,000 at 5% annual return, I expect to have 1000 * (1.05)^n after n years. That fits my definition of exponential - time is an exponent in the formula.