You have two friends, Ted and Fred. Ted “lives for today” and places a lot of value on what money he has today to go on vacation and buy new cars. His friend Fred likes to save his money and not buy expensive things because he wants to travel a lot when he is retired and is worried about having enough money when he is older. Show on graphs, assuming that these two have the same ability level, how these differences will impact their decisions to invest in education and their income levels.