Write the Word or Phrase That Best Completes Each Statement $\mathrm { N } = \mathrm { Ie } \mathrm { kt } , \mathrm { N }$

Multiple Choice

Write the word or phrase that best completes each statement or answers the question.
-In the formula $\mathrm { N } = \mathrm { Ie } \mathrm { kt } , \mathrm { N }$ is the number of items in terms of an initial population I at a given time $\mathrm { t }$ and $\mathrm { k }$ is a growth constant equal to the percent of growth per unit time. There are currently 68 million cars in a certain country, increasing by $1.2 \%$ annually. How many years will it take for this country to have 77 million cars? Round to the nearest year.

A) $10 \mathrm { yr }$
B) $183 \mathrm { yr }$
C) $5 \mathrm { yr }$
D) $8 \mathrm { yr }$