Answer :
Let's analyze Dan's budget and spending step-by-step.
1. Collecting Budget and Spending Data:
- Internet: Budgeted \[tex]$535, Spent \$[/tex]535
- Food: Budgeted \[tex]$100, Spent \$[/tex]595
- Rent: Budgeted \[tex]$500, Spent \$[/tex]500
- Discretionary spending: Budgeted \[tex]$100, Spent \$[/tex]140
2. Calculating Total Budgeted and Total Spent Amounts:
- Total Amount Budgeted:
[tex]\[ 535 \, (\text{internet}) + 100 \, (\text{food}) + 500 \, (\text{rent}) + 100 \, (\text{discretionary}) = 1235 \][/tex]
- Total Amount Spent:
[tex]\[ 535 \, (\text{internet}) + 595 \, (\text{food}) + 500 \, (\text{rent}) + 140 \, (\text{discretionary}) = 1770 \][/tex]
3. Income:
- Dan's income is \[tex]$5750. 4. Comparison Against Budget: - Compare total spent (\$[/tex]1770) with total budgeted (\[tex]$1235): \[ 1770 > 1235 \] Dan spent more than he had budgeted for. 5. Comparison Against Income: - Compare total spent (\$[/tex]1770) with income (\$5750):
[tex]\[ 1770 <= 5750 \][/tex]
Dan spent less than his income.
Thus, Dan exceeded his budget but did not exceed his income. Based on these observations:
- Dan did not stay within his budget.
- He was able to cover his extra expenses using his income, indicating he possibly used his savings.
Therefore, the correct answer is: Yes, Dan used his savings to cover extra expenses.
1. Collecting Budget and Spending Data:
- Internet: Budgeted \[tex]$535, Spent \$[/tex]535
- Food: Budgeted \[tex]$100, Spent \$[/tex]595
- Rent: Budgeted \[tex]$500, Spent \$[/tex]500
- Discretionary spending: Budgeted \[tex]$100, Spent \$[/tex]140
2. Calculating Total Budgeted and Total Spent Amounts:
- Total Amount Budgeted:
[tex]\[ 535 \, (\text{internet}) + 100 \, (\text{food}) + 500 \, (\text{rent}) + 100 \, (\text{discretionary}) = 1235 \][/tex]
- Total Amount Spent:
[tex]\[ 535 \, (\text{internet}) + 595 \, (\text{food}) + 500 \, (\text{rent}) + 140 \, (\text{discretionary}) = 1770 \][/tex]
3. Income:
- Dan's income is \[tex]$5750. 4. Comparison Against Budget: - Compare total spent (\$[/tex]1770) with total budgeted (\[tex]$1235): \[ 1770 > 1235 \] Dan spent more than he had budgeted for. 5. Comparison Against Income: - Compare total spent (\$[/tex]1770) with income (\$5750):
[tex]\[ 1770 <= 5750 \][/tex]
Dan spent less than his income.
Thus, Dan exceeded his budget but did not exceed his income. Based on these observations:
- Dan did not stay within his budget.
- He was able to cover his extra expenses using his income, indicating he possibly used his savings.
Therefore, the correct answer is: Yes, Dan used his savings to cover extra expenses.