False claim...
8/8 is an improper fraction
8/8 * 5/8 = 5/8......it is not less then, it is equal
The equation would be
and it would take 34.16 years.
0.10 is the amount we're trying to get; 0.05 is the initial value; and 0.0205 is the percent of increase, 2.05%, written as a decimal number.
To evaluate, we combine everything in parentheses:
Divide both sides by 0.05:
We solve this using a logarithm:
Remember that it should add up to 180