Seth is certainly the one who needs a long term care insurance.
A long term care insurance is a policy that covers the nursing bills for older citizens who are 65 years and above. It is an advance payment that covers about six or more years.
Such a policy is of more importance to Seth who has spent most of the money that he has made and keeps spending. He may not have enough money to cover his nursing bills in old age but Colin would depend on his long term savings.
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The rate at which the height of the water in this cylindrical tank is increasing is 26.18 m/mn.
<h3>How to calculate the volume of a cylinder?</h3>
Mathematically, the volume of a cylindrical tank can be calculated by using this formula:
V = πr²h
Where:
Differentiating with respect to h, we have:
dV/dt = πr²(dh/dt)
3 = 3.142 × 5² × dh/dt
3 = 78.55dh/dt
dh/dt = 78.55/3
dh/dt = 26.18 m/mn.
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A plan of dollar amounts to be spent on long-term projects is called a Capital Budget.
<h3>What Is Capital Budgeting? </h3>
Capital budgeting is known to be a form of a business doings that is often done to examine potential major projects or any form of an investments.
Note that before a person does any business, it is good that they have the budgeted amount of money they are willing to spend as it is important before going into the business.
Hence, A plan of dollar amounts to be spent on long-term projects is called a Capital Budget.
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