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1.Using the two-period consumption model, solve for C 2 if first period income is $40,000, second period income is $48,000, first period consumption is $38,000,

1.Using the two-period consumption model, solve for C₂ if first period income is $40,000, second period income is $48,000, first period consumption is $38,000, and the interest rate is 4%.

GivenFind

Y₁ = C₂

Y₂ =

C₁ =

r =

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