Consumption and saving in person''s life

Reference no: EM13903993

Suppose a person expects to live six periods. This person has no accumulated wealth and receives an income of $15 in each of the first 4 periods. After period 4 this person retires and receives no wage income. Assuming this person follows the life cycle consumption function, prepare a table showing income, consumption and saving in each of the 6 years of the person’s life.Assume that the interest rate is zero

Reference no: EM13903993

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