A compound interest formula is a type of exponential equation. That is option C
What are exponential equations?
Exponential equations are those equations that has their variables as exponents. A typical example of this type of equation is the compound interest formula.
The compound interest formula is an exponential equation because the little sum invested as capital, once the interest is added, the balance will earn more capital during the next compounding period.
Therefore, a compound interest formula is a type of exponential equation.
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