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Solve the exponential equation algebraically. Approximate the result to three decimal places. $$\left(1+\frac{0.10}{12}\right)^{12 t}=2$$

Short Answer

Expert verified
The approximation of t, to three decimal places, is 0.056.

Step by step solution

01

Simplifying the base

By performing the division operation, we can simplify the base of the expression. This gives us \(\left(1+\frac{1}{120}\right)^{12 t}=2\).
02

Transforming to Logarithmic Form

Then, we can transform the above equation into logarithmic form. Using the property of logarithms in which \[a = b^{x}\] is equivalent to \[x = log_{b}a\], we have \[12t = log_{1+1/120}2\].
03

Solving for \( t \)

By dividing both sides of the equation by 12, solve for \( t \). The division operation gives us \[t = log_{1+1/120}2 /12\]. Using the calculator, performing the procedure in decimal format equals approximately 0.056. The result should then be rounded to yield \( t \) approximately 0.056 when rounded to three decimal places.

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