Exponential decay in the context of Nondimensionalization

Half-life (symbol t_½) is the time required for a quantity (of substance) to reduce to half of its initial value. The term is commonly used in nuclear physics to describe how quickly unstable atoms undergo radioactive decay or how long stable atoms survive. The term is also used more generally to characterize any type of exponential (or, rarely, non-exponential) decay. For example, the medical sciences refer to the biological half-life of drugs and other chemicals in the human body. The converse of half-life is doubling time, an exponential property which increases by a factor of 2 rather than reducing by that factor.

The original term, half-life period, dating to Ernest Rutherford's discovery of the principle in 1907, was shortened to half-life in the early 1950s. Rutherford applied the principle of a radioactive element's half-life in studies of age determination of rocks by measuring the decay period of radium to lead-206.

When an electromagnetic wave travels through a medium in which it gets attenuated (this is called an "opaque" or "attenuating" medium), it undergoes exponential decay as described by the Beer–Lambert law. However, there are many possible ways to characterize the wave and how quickly it is attenuated. This article describes the mathematical relationships among:

• attenuation coefficient;
• penetration depth and skin depth;
• complex angular wavenumber and propagation constant;
• complex refractive index;
• complex electric permittivity;
• AC conductivity (susceptance).

Note that in many of these cases there are multiple, conflicting definitions and conventions in common use. This article is not necessarily comprehensive or universal.

In finance, the rule of 72, the rule of 70 and the rule of 69.3 are methods for estimating an investment's doubling time. The rule number (e.g., 72) is divided by the interest percentage per period (usually years) to obtain the approximate number of periods required for doubling. Although scientific calculators and spreadsheet programs have functions to find the accurate doubling time, the rules are useful for mental calculations and when only a basic calculator is available.

These rules apply to exponential growth and are therefore used for compound interest as opposed to simple interest calculations. They can also be used for decay to obtain a halving time. The choice of number is mostly a matter of preference: 69 is more accurate for continuous compounding, while 72 works well in common interest situations and is more easily divisible.

In acoustics, Stokes's law of sound attenuation is a formula for the attenuation of sound in a Newtonian fluid, such as water or air, due to the fluid's viscosity. It states that the amplitude of a plane wave decreases exponentially with distance traveled, at a rate α given by$${\displaystyle \alpha ={\frac {2\eta \omega ^{2}}{3\rho V^{3}}}}$$where η is the dynamic viscosity coefficient of the fluid, ω is the sound's angular frequency, ρ is the fluid density, and V is the speed of sound in the medium.

The law and its derivation were published in 1845 by the Anglo-Irish physicist G. G. Stokes, who also developed Stokes's law for the friction force in fluid motion. A generalisation of Stokes attenuation taking into account the effect of thermal conductivity was proposed by the German physicist Gustav Kirchhoff in 1868.

The Beer–Bouguer–Lambert (BBL) extinction law is an empirical relationship describing the attenuation in intensity of a radiation beam passing through a macroscopically homogenous medium with which it interacts. Formally, it states that the intensity of radiation decays exponentially in the absorbance of the medium, and that said absorbance is proportional to the length of beam passing through the medium, the concentration of interacting matter along that path, and a constant representing said matter's propensity to interact.

The extinction law's primary application is in chemical analysis, where it underlies the Beer–Lambert law, commonly called Beer's law. Beer's law states that a beam of visible light passing through a chemical solution of fixed geometry experiences absorption proportional to the solute concentration. Other applications appear in physical optics, where it quantifies astronomical extinction and the absorption of photons, neutrons, or rarefied gases.