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.

(3 points)
Drop target 1
Drop target 2
Drop target 3
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

$6,600

$9,500

$11,364

Answer 1

To determine how much money Margo will save in a year, we first need to calculate 22% of her monthly paycheck of $2500.

### Step 1: Calculate 22% of $2500
22% can be expressed as a fraction:
\[
22\% = \frac{22}{100} = 0.22
\]

Now, calculate 22% of $2500:
\[
\text{Savings per month} = 2500 \times 0.22
\]
\[
\text{Savings per month} = 2500 \times 0.22 = 550
\]

### Step 2: Calculate the annual savings
Now, since she saves $550 each month, we multiply that amount by the number of months in a year (12):
\[
\text{Annual savings} = 550 \times 12
\]
\[
\text{Annual savings} = 6600
\]

### Conclusion
After a year of saving, Margo will have saved **$6,600**.

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