Question

The fourth month this year, you have $368 saved. At the twelfth month this year, you have saved $504.

What is your savings rate?

Answer 1

So if $368 was saved in the fourth month, and $504 was saved at the twelve month, you subtract 504-368 which equals 136. Now you need to divide 136 by the remaining months, so 12-4=8, now you divide 136 by 8! Your savings rate is 17!