Choose the one alternative that best completes the statement or answers the question.
-In the formula N $\mathrm { N } = \mathrm { Ie } ^{\mathrm { kt }}$ , N is the number of items in terms of an initial population I at a given time t and k is a growth constant equal to the percent of growth per unit time. There are currently 69
Million cars in a certain country, decreasing by 6.3% annually. How many years will it take for this
Country to have 51 million cars? Round to the nearest year.
A) 46 yr
B) 5 yr
C) 3 yr
D) 2 yr

Question

Quizplus · Accepted Answer

Given the formula $N = Ie^{kt}$, where $N$ is the final amount, $I$ is the initial amount, $k$ is the rate of growth (negative for decay), and $t$ is the time in years. Here, $I = 69$ million, $N = 51$ million, and $k = -0.063$ (since it's a decrease). Solving for $t$ gives approximately 5 years.

Choose the One Alternative That Best Completes the Statement or Answers