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ms. venus has $100 income this year and $110 next year. the market interest rate is 10 percent per year. suppose ms. venus consumes $60 this year. what will be her consumption next year?

Sagot :

Ritmeks

ms. venus consumption next year will be $154

How to calculate the consumption ?

The first step is to write out the parameters

ms. venus has $100 this year and $110 next year

the market interest rate is 10 percent per year

ms. venus will consume $60 next year

Therefore her consumption can be calculated as follows

(100-60) × 1.1 + 110

= 40 × 1.1 + 110

= 44 + 110

= 154

Hence the consumption for next year is $154

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