Rishi spends $1054.69 on rent each month and receives a set

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Manhattan Prep

Rishi spends $1054.69 on rent each month and receives a set monthly income. In January, he saved a certain amount, and for each following month, he saved \(\frac{3}{2}\) as much as the previous month, spending all his remaining income. How much had he saved by the end of the year?

1) In August, if his rent were $54.69 less and he had saved $8.80 less, his rent and the amount he saved would have been the same.

2) Each year, his rent is \(\frac{12}{5}\) of his savings.

OA D