Last year, Henry saved $200 monthly. This year, he increased his monthly savings by 20%. How much more money will he be able to save this year compared to last year?
|
Savings |
Before |
100% |
Change |
+ 20% |
After |
120% |
100% → 200
1% → 200 ÷ 100 = 2
20% → 20 x 2 = 40
More monthly savings this year = $40
More savings this year compared to last year
= 12 x 40
= $480
Answer(s): $480