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Half-life is the time required for a quantity to reduce to half its initial value. It is commonly used in exponential decay processes.
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Exponential Decay: A process where a quantity decreases at a rate proportional to its current value. Represented by $N(t) = N_0 e^{-kt}$.
Decay Constant: The constant $k$ in exponential decay equations that determines the rate at which a quantity decreases.
Logarithm: $\log_b(x)$ is the exponent to which base $b$ must be raised to produce x. Commonly used in solving exponential equations.