Last year, Flynn saved $1600 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% → 1600
1% → 1600 ÷ 100 = 16
20% → 20 x 16 = 320
More monthly savings this year = $320
More savings this year compared to last year
= 12 x 320
= $3840
Answer(s): $3840