Multiple Choice
An individual has $60,000 income in period 0 and $30,000 income in period 1. If the individual desires to consume $19,000 in period 1 and the market interest rate is 8%, what is the maximum amount of consumption in period 0?
A) $50,000
B) $70,185
C) $71,000
D) $61,880
Correct Answer:
Verified
Correct Answer:
Verified
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