Margo is trying to be financially responsible. She is going to save 22% of her paycheck every month. Her paycheck is $2500 each month. How much money will she have saved after a year of saving?

Answer 1

First, we need to calculate how much money Margo will save each month.

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

So, Margo will save $550 each month.

Now, to calculate how much money she will have saved after a year (12 months), we need to multiply the monthly savings by 12.

$550 x 12 = $6600

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