To prepare for retirement, Devoiry saves $⁢400 per month in an account with an annual interest rate of 4% compounded monthly. How much will she have after 25 years? Use the formula A=(P⁡((1+(r)/(n))^n⋅t−1))/((r)/(n))

Use 400 for the monthly deposit, 0.04 for the annual interest rate, 12 compounding periods per year, and 25 years. Substituting gives A = 400[((1 + 0.04/12)^(12×25) − 1)/(0.04/12)] ≈ $205,651.82. Therefore, the correct choice is A, $205,651.82.

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