How does the main formula for the optimal retirement consumption rate change, in the presence of pension

Question:

How does the main formula for the optimal retirement consumption rate change, in the presence of pension income, when the pension increases annually at a cost-of-living (COLA) rate denoted by z%?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: