In 1979, the price of electricity was $0.05 per kilowatt-hour. The price of electricity has increased at a rate of approximately 2.05% annually. If t is the number of years after 1979, create the equation that can be used to determine how many years it will take for the price per kilowatt-hour to reach $0.10. Fill in the values of a, b, and c for this situation. Do not include dollar signs in the response.

The exponential equation that can can be used to determine how many years it will take for the price per kilowatt-hour to reach $0.10 is:[tex]0.1 = 0.05(1.025)^t[/tex]The values are: A = 0.05, b = 1.025, c = 0.1.What is an exponential function?An increasing exponential function is modeled by:[tex]A(t) = A(0)(1 + r)^t[/tex]In which:A(0) is the initial value.r is the growth rate, as a decimal.In this problem:In 1979, the price of electricity was $0.05 per kilowatt-hour, hence [tex]A(0) = 0.05[/tex]The price of electricity has increased at a rate of approximately 2.05% annually, hence [tex]r = 0.025[/tex].Then, the equation is:[tex]A(t) = A(0)(1 + r)^t[/tex][tex]A(t) = 0.05(1 + 0.025)^t[/tex][tex]A(t) = 0.05(1.025)^t[/tex]The time in years it will take for the price per kilowatt-hour to reach $0.10 is t for which A(t) = 0.1, hence:[tex]0.1 = 0.05(1.025)^t[/tex]The values are: A = 0.05, b = 1.025, c = 0.1.You can learn more about exponential equations at