Question: Make sure your answer is completely correct. Your income this year is $85,000 and your income next year is $120,000. The borrowing rate is 6.50%

Make sure your answer is completely correct.

Your income this year is $85,000 and your income next year is $120,000. The borrowing rate is 6.50% pa, and the savings rate is 5% pa. There is also a project which costs $50,000 today and pays $53,350 next year. Under these circumstances, if you would like to consume/spend $30,000 this year, how much can you consume next year? $173,350$176,800$173,275$178,725$178,600

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