Answer:
2.5 hours
Explanation:
To solve this question we can use the exponencial function:
P = Po * (1 + r)^t
Where P is the final value, Po is the inicial value, r is the rate and t is the time.
In this case, we have Po = 8, P = 7 and r = -5% = -0.05. So, we can solve for t:
7 = 8 * (0.95)^t
0.95^t = 0.875
log(0.95^t) = log(0.875)
t * log(0.95) = -0.1335
t * (-0.0513) = -0.1335
t = -0.1335 / (-0.0513) = 2.6023 hours
Rounding to the nearest half-hour, we have t = 2.5 hours