The document defines exponential functions as functions of the form f(x) = ax, where a is the base and a > 0, a ≠ 1. Exponential functions with bases greater than 1 have graphs that increase rapidly and have a horizontal asymptote of y = 0. Exponential functions with bases between 0 and 1 have graphs that increase more slowly and also have a horizontal asymptote of y = 0. Examples are given of sketching the graphs of various exponential functions, including translations and reflections of f(x) = 2x. The irrational number e, which is approximately 2.718, is important in applications involving growth and decay.