Assume that you are thirty years old,with F30 = $200,000 in financial capital. You currently earnw30 = $50,000 per year, which is expected to grow by gw = 1% until you retire at the age of sixty-five. Assume you plan to live to age ninety and the valuation rate is v = 3%. Your minimum, subsistent level of consumption is $12,000 per year, which will not change. Compute the optimal consumption rate (today) at age x = 30.What percentage of your wage should you optimally save at age thirty? (This is the savings ratio.) Assume that your personal patience factor is gc = 2%, which means that your consumption should grow at 2% per year. All cash flows occur annually at the end of each year.