A field research data shows the following marginal utility result: MUt = (1+r) / (1+) Et [MUt+1]+ t+1 What can explain the presence of t+1?

	a.	None of these
	b.	Mandatory savings for clients at microfinance banks
	c.	Lack of savings products available to smooth income over time
	d.	Multiple microloan providers in the region