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?(1 point)
Responses
$1,363
$1,363
$6,600
$6,600
$9,500
$9,500
$11,364
$6,600
To calculate how much money Margo will have saved after a year, we first need to determine how much she saves each month. Since she is saving 22% of her $2500 paycheck, the amount she saves each month is $2500 * 0.22 = $550.
In a year, she will have saved 12 * $550 = $6,600.