Question

Marilyn saves 30% of the money she earns each month. She earns 350$ each month. Home much does she save?

Answer 1

Marilyn saves $105 each month.

Step-by-step explanation:

To calculate the amount Marilyn saves, we first find 30% of her monthly earnings, which is $350.

`\[ \text{Savings} = \text{Percentage of savings} * \text{Monthly earnings} \]`

`\[ \text{Savings} = 0.30 * \$350 = \$105 \]`

Therefore, Marilyn saves $105 each month.

Understanding the percentage of savings is crucial in personal finance planning. In this case, Marilyn's decision to save 30% of her monthly earnings reflects a prudent financial habit. This approach ensures that she sets aside a substantial portion of her income for future needs, emergencies, or investments, contributing to financial stability.

Learning about effective budgeting and savings strategies empowers individuals to make informed financial decisions. Marilyn's choice to save a specific percentage of her earnings demonstrates financial responsibility and a proactive approach towards achieving financial goals.