This is essentially Exercise 4.4 (assignment 2).
Linear iteration can be converted to logarithmic iteration by recognizing that if e is even, then
(define power-product
(lambda (a b e)
(if (= e 0)
a
(if (even? e)
(power-product a (* b b) (/ e 2))
(power-product (* a b) b (- e 1))))))