Assume the borrowing rate is 10% and the lending rate is 5%. Also assume your income is
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If you consume nothing at time 2 then you can borrow the present value of your time2 income for cons...View the full answer
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Related Book For 
Modern Portfolio Theory and Investment Analysis
ISBN: 978-1118469941
9th edition
Authors: Edwin Elton, Martin Gruber, Stephen Brown, William Goetzmann
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