An exponential model is a mathematical representation used to describe situations where a quantity grows or decreases at a rate proportional to its current value. This means that as the quantity increases, the rate of growth also increases, leading to rapid changes over time. Common examples include population growth and compound interest in finance. In an exponential model, the general formula is often expressed as y = a * b^x, where y is the final amount, a is the initial amount, b is the growth factor, and x represents time. This model is useful in various fields, including biology, economics, and environmental science.