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1. Assume Robert has an income of 20,000 in period 1, 40,000 in period 2 and the interest rate on both borrowing and saving is

1. Assume Robert has an income of 20,000 in period 1, 40,000 in period 2 and the interest rate on both borrowing and saving is 3%. Draw his intertemporal budget constraint carefully explaining and labelling the intercepts on both axis

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