Example 3: Select either method learned to find the term of a savings account to answer the question. Round your answer to one decimal place. Leni opened a savings account that pays 0.8% interest compounded quarterly. Her initial deposit was $50. How long would she have to leave the money in the account for it to double? Example 4: Amita wants to make monthly deposits of $200 into a savings account that offers 1.5% interest compounded monthly. Use the future balance of a periodic investment formula from Example 3 to determine how long will it take for the account balance to reach $5000. Round to the nearest tenth of a year.