5
QuizMultiple Choice

Financial Reserves

Question 5 • FL-2102371-Personal Finance and Money Management

Dylan’s essential (fixed) expenses are $900 per month, his essential (flexible) expenses are $400 per month, and his non-essential expenses are $295 per month. His 401-K retirement account has $12,000, and his emergency fund savings account has $3500. Dylan wants an emergency fund of 3 times monthly living expenses. How much more does Dylan need to save to have an adequate emergency fund? a.$1,450b.$5,200c.$1,285d.$8,500

Answer
A
A
B
B
C
C
D
D
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Dylan’s essential (fixed) expenses are $900 per…