Final answer:
The question does not provide enough information to determine how many years it will take for Corinne to save $25,000. It does, however, relate to Rosalie, who must consider the impact of a 6% inflation rate on her $20,000 retirement payment over 16 years, which will reduce its buying power in today's dollars.
Step-by-step explanation:
The information provided does not give a direct answer to how many years it will take for Corinne to save $25,000 for her cake-decorating business. To answer such a question, more information would be required, such as her current savings, the amount she plans to save each year, and whether this is being affected by any interest rate or inflation.
However, we can discuss the related scenario for Rosalie the Retiree who is dealing with inflation. If Rosalie's company will give her $20,000 in 16 years and the annual inflation rate is 6%, her buying power in today's dollars can be calculated using the formula for present value: PV = FV / (1 + r)^n, where FV is the future value, r is the annual inflation rate, and n is the number of years. Therefore, the buying power of the $20,000 in today's dollars would be significantly less after 16 years due to inflation.