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A person saves $200 every month. How much will they save in a year?

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Question: A person saves $200 every month. How much will they save in a year?

Options:

  1. $2400
  2. $2000
  3. $1800
  4. $3000

Correct Answer: $2400

Solution: 

Total savings in a year = Monthly savings × 12 months = $200 × 12 = $2400.

A person saves $200 every month. How much will they save in a year?

Practice Questions

Q1
A person saves $200 every month. How much will they save in a year?
  1. $2400
  2. $2000
  3. $1800
  4. $3000

Questions & Step-by-Step Solutions

A person saves $200 every month. How much will they save in a year?
  • Step 1: Identify how much 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, calculate $200 multiplied by 12.
  • Step 4: Perform the multiplication: $200 × 12 = $2400.
  • Step 5: The total savings in a year is $2400.
  • 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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