I have a process of degradation of some material that proceeds like this across time $t$:
$C_t = C_{t-1} + RC_{t-1}$
where $C_t$ is the amount of material at time $t$ and $R$ is a (negative) rate of degradation. Starting with initial amount $C_0 = 1$ and $R = -0.5$, we have:
$C_0 = 1, C_1 = 0.5, C_2 = 0.25, C_3 = 0.125, C_4 = 0.0625, C_5 = 0.03125, \dots$
what is the correct way to describe $C_t$ in terms of $\exp()$ decay? This form doesn't match the results:
$C_t = C_0\exp(-0.5t)$
since $C_1 = \exp(-0.5) = 0.60653 \neq 0.5$.
This is a discrete case.
$$C_t =(1+R)C_{t-1}=(1+R)^2 C_{t-2}=\dots =(1+R)^t C_0$$
So the equation is $C_t = (1+R)^t C_0$.