Mr Simes earns $3360 every week, and sets aside 7% of this as his holiday savings account. How much will he accumulate in this account over one year
Question
Solution 1
Sure, here are the steps to solve this problem:
First, we need to find out how much Mr. Simes saves every week. We do this by multiplying his weekly earnings by the percentage he sets aside. In this case, that's $3360 * 7/100 = $235.2. So, Mr. Simes saves $235.2 every week.
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