To determine how much Margo will save after a year, we first need to calculate 22% of her monthly paycheck of $2500.
Step 1: Calculate 22% of $2500. To find 22% of a number, we can use the following formula:
\[ \text{Amount saved} = \text{Percentage} \times \text{Total Paycheck} \]
Substituting the values we have:
\[ \text{Amount saved} = 0.22 \times 2500 \]
Calculating that gives:
\[ \text{Amount saved} = 550 \]
So, Margo saves $550 each month.
Step 2: Calculate the total savings after one year (12 months). Next, we multiply the monthly savings by the number of months in a year:
\[ \text{Total savings} = \text{Monthly savings} \times 12 \] \[ \text{Total savings} = 550 \times 12 = 6600 \]
Therefore, after one year of saving, Margo will have saved a total of $6,600.
Answers to the questions:
- For Question 1: The proportion to determine 22% of $2500 is already calculated.
- For Question 2: The total amount Margo will have saved after a year of saving is $6,600.