Globally the household savings rate varies significantly according to Global Finance magazine and Investopedia. The
savings rate in Ireland is 22.8%, in Canada it is 15%, and in China it is 44.9%. In the United States, the savings rate had been
around 7.5% for years until 2020, the year of the pandemic, when savings jumped to 16.1%. Finder.com states the median
savings for American families is $4,830. If the average American couple should save at least $1.3 million for retirement, what
percent has actually been saved on average to date?
Note: Round to the nearest hundredth percent.