Margo is trying to be financially responsible. She is going to save 22% of her paycheck every month. Her paycheck is $2500 each month. How much money will she have saved after a year of saving?

Question

Margo is trying to be financially responsible. She is going to save 22% of her paycheck every month. Her paycheck is $2500 each month. How much money will she have saved after a year of saving?

Answer 1

First, calculate how much money Margo will save each month: $2500 x 0.22 = $550

Next, multiply the amount saved each month by the number of months in a year: $550 x 12 = $6600

Margo will have saved $6600 after a year of saving 22% of her paycheck each month.