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?
$1,363
$6,600
$9,500
$11,364
First, we need to calculate how much money she saves each month. To do this, we multiply her paycheck by 22%:
$2500 * 0.22 = $550
Next, we need to calculate how much money she saves in a year. Since there are 12 months in a year, we multiply the monthly savings by 12:
$550 * 12 = $6600.
Therefore, Margo will have saved $6600 after a year of saving. The answer is $6,600.