Assume an economy (with two periods but no real investment) with 1000 consumers. Each consumer has income y = 150 in the current period and y 0 = 180 in the future period. The lump-sum taxes paid by each consumer are t = 30 in the current period and t 0 = 40 in the future period. The market real interest rate is 7% (i.e. r = 0:07). Of the 1000 consumers, 500 consume 200 units (per person) in the future, while 500 consume 80 units (per person) in the future. Determine aggregate private saving and the aggregate consumption in EACH period (the numbers). You should use the consumer's lifetime budget constraint to figure out the savings.

Earlier to find current consumption and current saving for each type of consumer I used the formulas c=y-t+(y'-t'-c'/1.07) and s=y-t-c. For the 200 unit consuming people I got c=63.93 and s=56.07 and for the 80 unit consuming people I got c=176.07 and s=-56.06. So far I have the first period aggregate consumption as C=500x63.93+500x176.07=120000 which has been confirmed as correct by my prof. But what about aggregate private savings for both periods and aggregate consumption for the second period?