Choose the One Alternative That Best Completes the Statement or Answers

Multiple Choice

Choose the one alternative that best completes the statement or answers the question.
-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 and k is a growth constant equal to the percent of growth per unit time. There are currently 59
Million cars in a certain country, increasing by 1.2% annually. How many years will it take for this
Country to have 78 million cars? Round to the nearest year.

A) 5 yr
B) 16 yr
C) 245 yr
D) 23 yr