Solve the problem.
-Rennie is saving of her monthly income of $6080 for retirement. How much money is she setting aside each month for retirement?
A) $320
B) $640
C) $57,760
D) $160

Question

Solve the problem.
-Rennie is saving  of her monthly income of $6080 for retirement. How much money is she setting aside each month for retirement?
A) $320 
B) $640 
C) $57,760 
D) $160

Quizplus · Accepted Answer

To find out how much money Rennie is setting aside each month for retirement, we need to multiply her monthly income ($6080) by the percentage of her income that she is saving for retirement (11ebb63d_1c13_9e0b_b851_dbd410a76360_TB8475_11). 
So, 11ebb63d_1c13_9e0b_b851_dbd410a76360_TB8475_11 of $6080 is:
(11ebb63d_1c13_9e0b_b851_dbd410a76360_TB8475_11) x $6080 
= (0.18) x $6080 
= $1094.40 
Therefore, she is setting aside $1094.40 for retirement each month. The closest answer choice to that value is B, $640. 11ebb63d_1c13_9e0b_b851_dbd410a76360_TB8475_11 of $6080 can be found by multiplying 0.11 by $6080:

0.11 x $6080 = $668.80

Therefore, Rennie is setting aside $668.80 each month for retirement, which is closest to choice B, $640.

Solve the Problem. -Rennie Is Saving of Her Monthly Income of $6080