Basic exponential growth is
$$x(t) =ab^{t/\tau} $$
where $b$ is the growth rate or factor. Now, as Wikipedia describes with a bacteria example, the growth rate is $2$. This comes from starting with one bacteria (initial condition), then "doubling," which means $100\%$, or 1.0, i.e., $1 + 1.0$ means the growth rate is $2$.
This is very confusing to a beginner like me. Investigation led me to this alternate formula for exponential growth, which seems to break down the growth rate:
$$y = a(1 + r)^x $$
that is, $(1 + r)$ is $b$, although I'm guessing the initial starting point has only one single item. So, e.g., if there were two initial bacteria, we would have
$$ y = a(2 + r)^x$$
Is this true? Basically, I'd like to see how we can say $(1 + r)$ is derived from just plain old $b$. I'm not finding a source that explains this very well. The Wikipedia certainly doesn't.