Answer:
[tex]9\ years[/tex]
Step-by-step explanation:
Let
P----> the initial price of the ticket
y ---> the price of the ticket after t years
t---> the time in years
we know that
100%+8%=108%=108/100=1.08
so
[tex]y=P(1.08)^{t}[/tex] ----> equation A
If the price is doubled
then
[tex]y=2P[/tex] -----> equation B
equate equation A and equation B and solve for t
[tex]2P=P(1.08)^{t}[/tex]
Simplify
[tex]2=(1.08)^{t}[/tex]
Apply log both sides
[tex]log(2)=t*log(1.08)[/tex]
[tex]t=log(2)/log(1.08)=9\ years[/tex]
