38 + 4 = 42 (1 year); 42 + 4 = 46 (2 years); 46 + 4 = 50 (3 years); 50 + 4 = 54 (4 years); 54 + 4 = 58 (5 years)
45.5 + 2.5 = 48 (1 year); 48 + 2.5 = 50.5 (2 years); 50.5 + 2.5 = 53 (3 years); 53 + 2.5 = 55.5 (4 years); 55.5 + 2.5 = 58 (5 years)
It will take 5 years before the trees are the same height, 58 inches.
Based on the number of years that Peter and Blair have till retirement, the total amount that they need to save to completely fund their income shortfall is $65,545.72.
<h3>What amount do Peter and Blair need to save?</h3>
First, find the income shortfall:
= 75,017 - 54,000
= $21,017
The amount they need to save to cover this shortfall is the future value of this amount at retirement. The rate will be the real rate which is:
= 6% - 2% inflation
= 4%
The future value is:
= Income shortfall x future value interest factor, 4%, 29 years
= 21,017 x 3.1187
= $65,545.72
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Answer:
(C)
Step-by-step explanation:
looking from the slope: f'(2) is negative
f(2)=0
the curve concave upward: f''(2) is positive
f'(2)<0
f(2)=0
0<f''(2)
f'(2)<0<f''(2)
