Last question for intertemporal BC

[Lis]

I am still a little confused about the intertemporal BC.  In Taylor's CLAS sections he wrote the future value as (1+p)c1+c2=(1+p)m1+m2/(1+pi).  Everywhere else we see it without the (1+pi) under m2.  Which one is correct?  Thank you.

[J]

That definitely must've been an error, especially considering (1+p) already takes into account both the nominal interest rate (r) and inflation (pi).

The future value constraint is 

(1+p)c1 + c2 = (1+p)m1 + m2

or alternatively,

[(1+r)/(1+pi)]*c1 + c2 = [(1+r)/(1+pi)]*m1 + m2

If we're only talking in nominal terms, you can forgo pi.