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?

Question

Determine the proportion to determine 22% of $2500.

(1 point)
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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 Margo will save each month, we need to calculate 22% of her monthly paycheck of $2500.

Step 1: Calculate 22% of $2500

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

Now, multiply her paycheck by this percentage:

\[ \text{Amount saved per month} = 2500 \times 0.22 = 550 \]

So, Margo saves $550 each month.

Step 2: Calculate how much she saves in a year

Since there are 12 months in a year, we multiply her monthly savings by 12:

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

So, after a year of saving, Margo will have saved $6,600.

Responses:

• $6,600