The Cole family's annual income is $193,273. The Cole's plan to add a savings plan to their budget. Beginning next month, they will save 20% of their total annual income.

How much will they save each year?

To determine how much the Cole family will save each year, we need to calculate 20% of their total annual income.

The formula to calculate 20% of their income is:

\[
\text{Amount Saved} = \text{Annual Income} \times 0.20
\]

Given:
- Annual Income = \$193,273

\[
\text{Amount Saved} = 193,273 \times 0.20 = 38,654.60
\]

So, the Cole family will save **\$38,654.60** each year.

Would you like more details or have any questions about this calculation?

Here are 5 related questions for further practice:
1. What if they decide to save 15% instead of 20%? How much would they save?
2. How much will the Cole family have saved in 5 years if they continue saving at this rate?
3. If their annual income increases by 5% next year, how much will they save?
4. How much would they save each month at a 20% savings rate?
5. If they want to save a total of \$50,000 a year, what percentage of their income should they save?

**Tip:** To calculate percentage savings, multiply the total amount by the percentage in decimal form (e.g., 20% becomes 0.20).

The Cole family's annual income is $193,273. The Cole's plan to add a savings plan to their budget. Beginning next month, they will save 20% of their total annual income. How much will they save each year?

Learn how to calculate 20% savings from an annual income of $193,273. This budgeting problem covers key concepts in percentages and basic arithmetic, making it suitable for students in Grades 5-7. Step-by-step instructions are provided.

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