Thomas invests $500 in a bank cd. The interest is 2 and it is compounded quarterly. How long will it take before his investment reaches $1000.

A. 30

B. 25

C. 40

D. 35

compounded quarterly means that

4*2% (interest) = 8% (for one time) converting to dollar it will be:

$500-100%.?=$40

? - 8%. now we need $500 to reach $1000 so $40*?=500

?=12.5 (answer)

Here you go ... Goodluck,