Question

Diego decided to invest his $500 tax refund rather than spending it. He found a bank that would pay him 4% interest, compounded quarterly. If he deposits the entire $500 and does not deposit or withdraw any other amount, how long will it take him to double his money in the account?

Answer 1

does not make any difference how much he deposits, doubling time is doubling time
solve
\[\left(1+\frac{.04}{4}\right)^{4t}=2\] for \(t\)

Answer 2

So what's the answer?

Answer 3

lol