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Consider a consumer who lives three periods and is currently at period t=1. He earns a fixed income of $2500 every period. At period 1
Consider a consumer who lives three periods and is currently at period t=1. He earns a fixed income of $2500 every period. At period 1 , he decides to take a loan of $1500 from his credit card to buy a TV at period t=1. (\$750) in period 3 with an interest of r(0
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