SOLUTION
We want to use the formula
[tex]A=Pe^{rt}[/tex]to solve the question, here
[tex]\begin{gathered} A=\text{ amount after 5 years = ?} \\ P=\text{ principal/money deposited = 2000 dollars } \\ t=\text{ time in years = 5 years} \\ r=\text{ annual interest rate = 4 percent = }\frac{4}{100}=0.04 \end{gathered}[/tex]Substituting the values, we have
[tex]\begin{gathered} A=Pe^{rt} \\ A=2000\times e^{0.04\times5} \\ A=2000\times e^{\frac{1}{5}} \\ A=2000\times1.22140 \\ A=2442.8055 \end{gathered}[/tex]Hence the answer is $2442.81 to the nearest cent
