She saves $3,840 annually into savings account
1. Marissa earns $1,000 after taxes twice a month
This means Marissa earns $2,000 ($1000 x 2) after deduction of taxes
2. Marissa's monthly bills are $1,200.
The monthly bills means expenses that Marissa incurred during the month.
3. Marissa deposits 40% of her remaining monthly income into a savings account
The balance of Marissa earnings per month after deduction of his expenses (bills) is $800 ($2,000 - $1,200).
She deposits 40% of $800 into a savings account.
= 40% x $800
= $320
So, she is saving $320 out of the remaining $800 she has per month.
4. Marissa annually save?
She saves $3,840 annually ($320 x 12 months) into savings account.
However, she has a disposable income of $480 per month, equivalent to $5,760 per annum.
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