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If a person saves $200 every month, how much will they save in a year?

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Question: If a person saves $200 every month, how much will they save in a year?

Options:

  1. $2000
  2. $2400
  3. $3000
  4. $3600

Correct Answer: $2400

Solution: 

Total savings = Monthly savings × Number of months = $200 × 12 = $2400.

If a person saves $200 every month, how much will they save in a year?

Practice Questions

Q1
If a person saves $200 every month, how much will they save in a year?
  1. $2000
  2. $2400
  3. $3000
  4. $3600

Questions & Step-by-Step Solutions

If a person saves $200 every month, how much will they save in a year?
  • Step 1: Identify how much money the person saves each month. In this case, it is $200.
  • Step 2: Determine how many months are in a year. There are 12 months in a year.
  • Step 3: Multiply the monthly savings by the number of months in a year. So, $200 multiplied by 12.
  • Step 4: Calculate the total savings. $200 × 12 = $2400.
  • Step 5: Conclude that the person will save $2400 in a year.
  • Monthly Savings Calculation – Understanding how to calculate total savings over a period by multiplying monthly savings by the number of months.
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