Lucky jack wins the lottery! he deposits $100,000 in an account that earns 4% interest compounded continuously. how much money is in the account at the end of 5 years? a) $120,357 b) $122,140 c) $125,620 d) $225,820

Option B)$122,140

Step-by-step explanation:

we know that

The formula to calculate continuously compounded interest is equal to

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest in decimal  

t is Number of Time Periods  

e is the mathematical constant number

we have  

substitute in the formula above  

Round to the nearest dollar