In the Formula N $\mathrm { N } = \mathrm { Ie }^ { kt }$

question 451

Multiple Choice

In the formula N $\mathrm { N } = \mathrm { Ie }^ { kt }$ , 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. How long will it take for the population of a
Certain country to triple if its annual growth rate is 5.7%? Round to the nearest year.

• A) 8 yr
• B) 19 yr
• C) 53 yr
• D) 1 yr

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Definitions:

Economic Events

Transactions and occurrences that affect the financial position of a business entity.

Basic Accounting Equation

Represents the foundation of double-entry bookkeeping, stating that assets equal liabilities plus equity.

Assets

Resources owned by a business that are expected to provide future economic benefits.

Liabilities

Financial obligations or debts that a company owes to others, which must be settled over time through the transfer of economic benefits including money, goods, or services.