## Intermediate Algebra (6th Edition)

Published by Pearson

# Chapter 9 - Section 9.7 - Common Logarithms, Natural Logarithms, and Change of Base - Exercise Set: 65

$2542.50 #### Work Step by Step We are given the formula$A=Pe^{rt}$(where A is the amount accrued, P is the principal amount, r is the interest rate, and t is the amount of time in years). In this case,$P=2000$,$r=.06$, and$t=4$. We can plug these values into the formula to find A.$A=2000e^{.06\times4}=2000e^{.24}=2000\times1.2712=2542.50\$ dollars

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