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lectures/equalizing_difference.md
@@ -50,6 +50,7 @@ Let
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If someone goes to work immediately after high school and works for $T+1$ years, she earns present value
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$$
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h_0 = \sum_{t=0}^T R^{-t} w_t^h = w_0^h \left[ \frac{1 - (R^{-1} \gamma_h)^{T+1} }{1 - R^{-1} \gamma_h } \right] \equiv w_0^h A_h
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