Exponential Decay: A process where quantities decrease at a rate proportional to their current value.
$e$ (Euler's Number): An irrational number approximately equal to 2.71828, which serves as the base for natural logarithms and is used in modeling continuous growth or decay.
$\ln(x)$ (Natural Logarithm): $\ln(x)$ represents the logarithm of $x$ with base $e$, commonly used in solving equations involving exponential growth or decay.