Solve the problem.
-In the formula N = I , 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 73 million cars in a certain country, increasing by 2.5% annually. How many years will it take for this country to have 88 million cars? Round to the nearest year.
A) 7 yr
B) 4 yr
C) 6 yr
D) 108 yr
Correct Answer:
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