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? Determine the proportion to determine 22% of $2500. (1 point) Drop target 1 Drop target 2 Drop target 3 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 $1,363 $6,600 $6,600 $9,500 $9,500 $11,364 $11,364

Answer 1

To calculate how much Margo will save every month, we first need to find 22% of her monthly paycheck of $2500.

Calculation of 22% of $2500:

\[ 0.22 \times 2500 = 550 \]

So, Margo saves $550 each month.

Now, to find out how much she will save after a year (12 months), we multiply her monthly savings by the number of months:

\[ 550 \times 12 = 6,600 \]

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

Answer: $6,600