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Suppose next year you start a new job with a starting salary of $50,000 and no non-human wealth. If you expect your salary to increase
Suppose next year you start a new job with a starting salary of $50,000 and no non-human wealth. If you expect your salary to increase by 5 percent in real terms for the next 3 years, the real interest rate is 0 percent and the income tax rate is 30 percent. How much should you spend each year (for the next three years) to maintain a constant level of consumption. (It is also implicitly assumed that consumption beyond the 3 year period has no value.) Provide an answer to the nearest whole dollar
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