A customer of the bank, Raj Kami, wants to deposit $100,000 in a savings account that pays a nominal rate of 8%

1. If Raj Kami deposited the $100,000 in 4 equal payments of $25,000 each at the end of years 1, 2, 3, and 4. How much would he have in the savings account at the end of year 4, based on 8% annual compounding?
2. Raj Kami wants to know how long it will take his sum of money to double if the growth rate per year is 8%