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

Question

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

Answer 1

To calculate how much money Margo will have saved after a year, we need to find 22% of her monthly paycheck and then multiply it by 12 (since there are 12 months in a year).

22% of $2500 = 0.22 * $2500 = $550

So Margo will save $550 every month.

After a year, she will have saved $550 * 12 = $<<550*12=6600>>6600. Answer: \boxed{6600}.