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
To find out how much money Margo will have saved after a year, we need to calculate 22% of her paycheck and then multiply it by the number of months in a year.
22% of $2500 = 0.22 * $2500 = $550
Since Margo will be saving $550 each month, the total amount saved after a year will be:
$550 * 12 = $6,600.
Therefore, Margo will have $6,600 saved after a year.