Question

Melissa’s paycheck last week was $25. She wants to deposit 20% of her earnings in her college savings account. How much money should she put in her college savings account?

Answer 1

To find out how much money Melissa should put in her college savings account, you can calculate 20% of her paycheck. The formula for calculating a percentage of a number is:

`Percentage = (Percentage Rate)/(100) * Amount\\`

In this case, Melissa wants to deposit 20% of her paycheck.

`CollegeSavings = 0.20*Paycheck`

Given that her paycheck was $25, you can substitute this value into the formula:

`College Savings = 0.20*5\\College Savings = 5`

Therefore, Melissa should put $5 in her college savings account.