Last year, Jenson saved $100 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% → 100
1% → 100 ÷ 100 = 1
20% → 20 x 1 = 20
More monthly savings this year = $20
More savings this year compared to last year
= 12 x 20
= $240
Answer(s): $240