For the last fifteen years, the price of gold has increased dramatically. In 2003, the average price for an ounce of gold was $270.
Since 2003, its value can be modeled as a function of time according to the following exponential
equation,
P=270(2),
where P = the average price of an ounce of gold and t = the time since 2001 in years.
Write this exponential equation in an equivalent logarithmic form in order to solve for t.