Apple controls about 85-90 percent of the money spent on mobile applications, according to a research note from an analyst on Monday.

In the note to clients, Piper Jaffray Senior Research Analyst, Gene Munster said he believes Google’s Android Market has generated about 7 percent of the gross revenue that Apple’s App Store has since it started.

Of course, the Android Market will grow, but Munster believes that even with that growth Apple will control more than 70 percent of the App Store dollars over the next 3-4 years.

According to Munster’s calculations, he says that about 1.3 percent of the apps downloaded for Android are paid apps. In comparison, he believes that 14 percent of apps downloaded from Apple’s App Store are paid apps.