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)
A. $1,363
B. $6,600
C. $9,500
D. $11,36
To find out how much money Margo will have saved after a year of saving, we need to calculate the total amount she saves each month and then multiply that amount by 12 (since there are 12 months in a year).
Margo saves 22% of her paycheck each month, which is $2500 * 0.22 = $<<2500*0.22=550>>550.
So, she saves $550 each month. Multiply this by 12 to find out how much she will have saved after a year: $550 * 12 = $<<550*12=6600>>6600.
Therefore, Margo will have saved $6600 after a year.
The correct answer is B. $6,600.