Last year, Oliver saved $500 monthly. This year, he increased his monthly savings by 25%. How much more money will he be able to save this year compared to last year?
|
Savings |
Before |
100% |
Change |
+ 25% |
After |
125% |
100% → 500
1% → 500 ÷ 100 = 5
25% → 25 x 5 = 125
More monthly savings this year = $125
More savings this year compared to last year
= 12 x 125
= $1500
Answer(s): $1500