[30] Ronnie has the utility function U(cj, c2) = cc?" where y e (0,1) and c, and c2 are his consumption in periods 1 and 2, respectively. He earns $200 in period 1 and $280 in period 2. He can borrow or save at an interest rate of 10% and the price of the consumption good is $1 in each period. a. [2] Write Ronnie's present-value and future-value budget constraints. b. [14] If Ronnie does not trust banks and decides to keep his savings in cash (i.e. they earn zero interest) and he does not have access to other sources of credit. i. [10] Solve for his optimal level of consumption in each period. ii. [4] What must be true about the value of y for Ronnie to choose to save in the first period