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Question

Question 1
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?
make a proportion
Determine the proportion to determine 22% of $2500.

Answer 1

To determine how much Margo will save after a year by saving 22% of her $2500 paycheck each month, we can start by finding 22% of $2500.

To express 22% as a decimal, we divide by 100:

\[ 22% = \frac{22}{100} = 0.22 \]

Now, we can set up a proportion to find how much she saves each month:

Let \( x \) be the amount Margo saves each month.

\[ \frac{x}{2500} = \frac{22}{100} \]

Now, we can solve for \( x \):

Multiply both sides by 2500:

\[ x = 2500 \times \frac{22}{100} \]

Calculating the right-hand side:

\[ x = 2500 \times 0.22 = 550 \]

So, Margo saves $550 each month.

Now, to find out how much she saves in a year:

\[ \text{Total saved in a year} = 550 \times 12 = 6600 \]

Therefore, Margo will have saved $6600 after a year.