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?
(1 point)
Responses
$1,363
$1,363
$6,600
$6,600
$9,500
$9,500
$11,364
$6,600
To calculate how much money Margo will have saved after a year of saving 22% of her $2500 paycheck every month, we can first find out how much she saves each month:
$2500 x 0.22 = $550
She saves $550 every month. To find out how much she will have saved after a year:
$550 x 12 months = $6,600
Therefore, Margo will have saved $6,600 after a year of saving.