Last year, David saved $400 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% → 400
1% → 400 ÷ 100 = 4
20% → 20 x 4 = 80
More monthly savings this year = $80
More savings this year compared to last year
= 12 x 80
= $960
Answer(s): $960