Solution-How much should you save or borrow year

How much should you save or borrow year

Reference no: EM133109925

Your annual income is $82,000 this year and you expect this to increase by 2% next year. The interest rate is 8%. You believe that your consumption this year and next year should be the same. If you in fact do consume equally in those two years, how much should you save or borrow this year?

Reference no: EM133109925

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How much should you save or borrow year

Reference no: EM133109925

Reference no: EM133109925

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