Question

Margo is trying to be financially responsible. She is going to save 22% of her paycheck every month. If her paycheck is $2500 each month, then how much money will she have saved after a year of saving?(1 point) Responses $1,363 $1,363 $6,600 $6,600 $9,500 $9,500 $11,364

Answer 1

To find out how much money Margo will save after a year, we need to calculate 22% of her paycheck and multiply it by the number of months in a year (12).

22% of $2500 is 0.22 * $2500 = $550.

So, she will save $550 every month.

$550 * 12 = $<<550*12=6600>>6600.

Therefore, Margo will have saved $6600 after a year of saving. Answer: $6,600.