Question

Camila invested $4,400 in an account that is earning an interest rate 90% every year. Camilla wants to create an exponential equation that allows her to track the interest earned over time, M(t).

Answer 1

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:

`I=P(1+r)^t-P`

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:

`M(t)=4400(1+0.9)^t-4400`

Therefore, the exponential equation that allows her to track the interest earned over time is:

`M(t)=4400(1+0.9)^t-4400`

Plugging the value for the number of years for t, you will get the interest earned over time, t.

ANSWRER:

`M(t)=4400(1+0.9)^t-4400`