Answer:
Option C. $1,285 more Dylan need to save.
Step-by-step explanation:
Dylan's essential (fixed) expenses = $900 per month
His essential (flexible) expenses = $400 per month
His non-essential expenses = $295 per month
Total expenses per month = 900 + 400 + 295 = $1595.00
He wants an emergency fund of 3 times monthly living expenses
= $1595 × 3 = $4,785.00
currently, in Dylan's emergency fund account = $3,500
Dylan need to save more = 4,785 - 3,500 = $1,285.00
Dylan need to save $1,285 more to have an adequate emergency fund.
