Solve the Problem $$\mathrm { N } = \mathrm { Ie } \mathrm { kt }$$

question 127

Multiple Choice

Solve the problem.
-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 65 million cars in a certain
Country, increasing by 1.7% annually. How many years will it take for this country to have 81 million cars?
Round to the nearest year.

• A) 9 yr
• B) 4 yr
• C) 13 yr
• D) 163 yr

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Definitions:

Rate

A measure, quantity, or frequency, typically one measured against another quantity or measure.

Marked Up

Refers to the percentage increase in the price of a good or service over its original cost to achieve a profit.

Marked Down

Refers to a reduction in the selling price of goods or services, typically to clear inventory or to boost sales.

Sale Price

The final amount at which an item is sold after any discounts or promotions.