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Calculate the steady rate of consumption the kenyan citizen

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In a Kenyan set up, the proportion of change in income on a citizen in the year 2019 and the year 2020 is 0.4. Assume that the income in 2019 is ksh. 1,200,000 and in 2020 Ksh. 1,600,000, Calculate the steady rate of consumption the Kenyan citizen could maintain for the rest of his or her life, given the present level of wealth and income now and in the future.

Reference no: EM132617854

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