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)

Question

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 have saved after a year, we need to calculate 22% of her paycheck and then multiply it by the number of months in a year.

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

Since Margo will be saving $550 each month, the total amount saved after a year will be:

$550 * 12 = $6,600.

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