Peter and Blair recently reviewed their future retirement income and expense projections. They hope to retire in 30 years and anticipate they will need funding for an additional 20 years. They determined that they would have a retirement income of $61 comma 000 in today's dollars, but they would actually need $86 comma 000 in retirement income to meet all of their objectives. Calculate the total amount that Peter and Blair must save if they wish to completely fund their income shortfall, assuming a 3 percent inflation rate and a return of 8 percent.

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being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.

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