Joe earns $160 per week at a local market. He makes a payment of $12 per week for a new bike. He spends $75 each week on food an entertainment. Joe deposits the rest of his money in a savings account. Joe estimates that he deposits about 25% of the $160 into his savings account each week.
1. Is Joe correct?
2. How much of his weekly earnings would Joe need to deposit in order to save 40%?
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