The University of XYZ Has a Goal to Increase Its

Multiple Choice

The University of XYZ has a goal to increase its endowment from the initial value of $100,000,000, to $150,000,000 over 4 years. If the interest rate earned by the endowment (after expenses) is 5% each year (compounded continuously) , and the contributions become available continuously and at a constant rate, how much will they actually have to collect from contributors over those 4 years to meet their goal?

A) $6,291,639
B) $40,535,078
C) $1,061,963,001
D) $25,166,556