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

question 170

Multiple Choice

In the formula N $\mathrm { N } = \mathrm { Ie }^ { kt } , \mathrm { N }$ 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 66 million cars in a certain
Country, increasing by 0.7% annually. How many years will it take for this country to have 87 million cars?
Round to the nearest year.

• A) 39 yr
• B) 435 yr
• C) 5 yr
• D) 30 yr

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Definitions:

Holding-Period Return

The total return received from holding an asset or portfolio over a specified period, accounting for all income and capital gains.

Dividend

A portion of a company's earnings distributed to its shareholders, usually in the form of cash payments or additional shares.

Inflation

The rate at which the general level of prices for goods and services is rising.