He population of a small town is decreasing at a rate of 3% each year. The following table shows a projection of the population, N, after t years. Years Population
0 8,500
1 8,245
2 7,998
3 7,758
4 7,525

If the population of the small town is currently 8,500 people, how many years will it take for the population to reach 5,500 people?

14.3 years

13.3 years

14.7 years

13.7 years