Answer
$\approx2442.8$
Work Step by Step
The amount can be obtained by the formula (after $t$ years): $A=Pe^{rt}$ Where $P$ is the principal, and $r$ is the annual interest rate.
Hence here: $A=Pe^{rt}=2000e^{0.04\cdot5}\approx2442.8$
Algebra 2 (1st Edition)
by Larson, Ron; Boswell, Laurie; Kanold, Timothy D.; Stiff, Lee
Published by
McDougal Littell
ISBN 10:
0618595414
ISBN 13:
978-0-61859-541-9
Chapter 7 Exponential and Logarithmic Functions - 7.3 Use Functions Involving e - 7.3 Exercises - Problem Solving - Page 497: 57
Update this answer!
You can help us out by revising, improving and updating this answer.
Update this answerAfter you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.
