Intuition behind the learning rate decay formula

Hello,

I have watched until the end of Week 2 of Course 2 and I was trying to understand the intuition behind the learning rate decay formula that professor Ng had written and explained variations of the same.

Can someone please explain the derivation of the formula?

Thank you,
Shreyas

These are popular heuristics of reducing learning rate gradually as number of epochs increases. You can plot and pick a strategy that you want.
See Learning rate schedule here