Solve the problem.
-There are currently 80 million cars in a certain country, decreasing by $7.3 \%$ annually. How many years will it take for this country to have 57 million cars? (Round to the nearest year.)
A) 3 years
B) 2 years
C) 43 years
D) 5 years

Question

Quizplus · Accepted Answer

To find the number of years it takes for the number of cars to decrease from 80 million to 57 million at a rate of 7.3% annually, we use the formula for exponential decay: $ N = N_0 (1 - r)^t $, where $ N_0 = 80 $ million, $ N = 57 $ million, $ r = 0.073 $, and $ t $ is the number of years. Solving for $ t $, we get approximately 5 years.

Solve the Problem 7.3%7.3 \%7.3% Annually How Many Years Will It Take for This Country

Solve the Problem $7.3 \%$ Annually How Many Years Will It Take for This Country