First, we need to identify Sammy's monthly living expenses. From the provided table, the total amount allocated to various categories annually is [tex]$2,362. To find the monthly living expenses, we:
1. Calculate the monthly expenses:
\[
\text{Monthly living expenses} = \frac{\text{Total Annual Expenses}}{12} = \frac{2362}{12} \approx 196.83
\]
However, this step may not be necessary since the key point is the total annual expenses provided as $[/tex]2,362.
Next, we want to determine how much Sammy needs to save to have 3 times the amount of his living expenses in the bank for his emergency savings. Therefore, we compute:
2. Emergency savings target:
[tex]\[
\text{Emergency savings target} = 3 \times \text{Total Annual Living Expenses} = 3 \times 2362 = 7086
\][/tex]
Now, we need to compare the computed emergency savings target ([tex]$7,086) with the given choices to see which one matches:
- a. $[/tex]1,712; approximately 8 months
- b. [tex]$5,136; approximately 24 months
- c. $[/tex]6,486; approximately 30 months
- d. [tex]$2,162; approximately 6 months
3. After comparing, none of the options match the emergency savings target of $[/tex]7,086.
Thus, the detailed step-by-step solution results in a conclusion where none of the provided choices align with the required emergency savings target. Consequently, the correct response is:
[tex]\( \textbf{None of the provided choices meet the emergency savings target.} \)[/tex]
The closest match is not satisfactory, hence the solution indicates that none of the provided options are correct.
