Question 1

Question

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.

(3 points)
Drop target 1
Drop target 2
Drop target 3

Answer 1

To calculate how much Margo will save after a year, we first need to find out how much 22% of her monthly paycheck ($2500) is.

1. Calculate 22% of $2500: \[ \text{Amount saved per month} = 0.22 \times 2500 \]

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

2. Calculate the total savings after one year: Since there are 12 months in a year: \[ \text{Total savings after one year} = 550 \times 12 \]

   \[ \text{Total savings after one year} = 6600 \]

Margo will have saved $6600 after a year of saving 22% of her $2500 paycheck each month.

Proportions to determine 22% of $2500:

• Drop target 1: \( 0.22 \)
• Drop target 2: \( 2500 \)
• Drop target 3: \( = 550 \) (which is 22% of $2500)