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?
A. $1,363
B. $6,600
C. $9,500
D. $11,364
Since Margo is saving 22% of her paycheck every month, she will be saving $550 (22% of $2500) each month.
After a year of saving, which is 12 months, she will have saved:
$550 x 12 = $6,600
Therefore, Margo will have saved $6,600 after a year of saving.
The correct answer is B. $6,600.