Exponential growth refers to a situation where a quantity increases at a rate proportional to its current value. This means that as the quantity grows, the speed of growth also accelerates. A common example is the growth of a population, where each individual can reproduce, leading to more individuals over time. In mathematical terms, exponential growth can be represented by the equation y = a(1 + r)^t , where y is the final amount, a is the initial amount, r is the growth rate, and t is time. This type of growth is often seen in finance, biology, and technology, such as the spread of viruses or the increase in internet users.