Given:
Principal Amount, P = $4,400
Interest rate, r = 90%
Here, Camilla needs to create an exponential equation that allows her tract the interest earned over time.
This is a Compound interest problem.
To find create an exponential equation, apply the formula below:
[tex]I=P(1+r)^t-P[/tex]WHere:
P is the principal amount = $4,400
r is the rate = 90% = 0.90
t is the time (number of years)
Input values into the equation above:
[tex]M(t)=4400(1+0.9)^t-4400[/tex]Therefore, the exponential equation that allows her to track the interest earned over time is:
[tex]M(t)=4400(1+0.9)^t-4400[/tex]Plugging the value for the number of years for t, you will get the interest earned over time, t.
ANSWRER:
[tex]M(t)=4400(1+0.9)^t-4400[/tex]