I like to think of Radioactive decay like an onion. Consider each half-life like a layer of an onion, but each layer is equivalent to half of its original size.
So lets the onion has a half-life of 5 years. After 5 years, is will lose a layer, which equivalent to have its size. The size is reduced by half, but subsequent layers will take another 5 years to shed and so on until there are no more layers to shed
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