Matt and Bree are saving for a new car. At the end of 2013, their total savings was $12,500. In 2014, total savings increased to $15,550. How much did Matt and Bree save in 2014?

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Public Saving

Public saving deals with the amount which has been in excess after meeting all the obligatory expenses and investment of the government. Taxes are collected by the government to meet its day-to-day expenditures. The obligatory expenses include all those expenses which are mandatory for the government. It cannot be avoided as it is inevitable.