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?

Determine the proportion to determine 22% of $2500.

(1 point)
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Question 2
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
$11,364
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Answer 1

To determine how much Margo will save each month, we need to calculate 22% of her monthly paycheck of $2500.

1. **Calculate 22% of $2500**:

\[
22\% \text{ of } 2500 = \frac{22}{100} \times 2500 = 0.22 \times 2500 = 550
\]

So, Margo will save $550 each month.

2. **Calculate her total savings after one year**:

Since there are 12 months in a year, we can find out how much she will save in a year by multiplying her monthly savings by 12:

\[
550 \times 12 = 6600
\]

Therefore, after a year of saving, Margo will have saved **$6,600**.

The correct response is **$6,600**.