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Rick is currently 35 years old. He plans to retire at age 65 and live to age 85. His labour income is $50, 000 per
Rick is currently 35 years old. He plans to retire at age 65 and live to age 85. His labour income is $50, 000 per year, and he intends to maintain a constant level of real consumption spending over the next 50 years. Assuming a real interest rate of 3% per year, no taxes, and no growth in real labour income, what is the value of Ricks human capital?
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