For Selected Years from 1978 to 2002, the Number of Mutual

Multiple Choice

For selected years from 1978 to 2002, the number of mutual funds N, excluding money market funds, can be modeled by , where t is the number of years past 1975 (Source: Investment Company Institute, Mutual Fund Fact Book (2003) ) . Use the model to estimate the year when the number of mutual funds will reach 8,000. ​

A) 1997
B) 1999
C) 2005
D) 2003
E) 2009