Marissa currently saves 11% of her income. If she saves $295.00 a month, how much would she save if she put aside 15% of her income instead?
Select one:
⚫a. $362.00
b. $462.61
⚫c. $483.00
d. $402.27
Let's assume Marissa's income is denoted by X.
We are given that Marissa currently saves 11% of her income, which means she saves (11/100) * X = 0.11X.
We are also given that Marissa currently saves $295.00 a month, so we can set up the equation 0.11X = $295.00.
To find X, we divide both sides of the equation by 0.11: X = $295.00 / 0.11.
X ≈ $2,681.82.
If Marissa were to put aside 15% of her income, she would save (15/100) * $2,681.82 = $402.27.
Therefore, Marissa would save $402.27 if she put aside 15% of her income.
Hence, the correct answer is d. $402.27.