Consider the following table: Interest Rate (%) & Quantity of Financial Capital Demanded ( billions) & Quantity of Financial Capital Suppli 10 % & 1,000 & 500 12 % & 900 & 600 13 % & 700 & 700 14 % & 600 & 800 What is the equilibrium interest rate? Enter your results in the box.

## Step 1: Identify the equilibrium condition### The equilibrium interest rate occurs where the quantity of financial capital demanded equals the quantity of financial capital supplied.## Step 2: Compare the quantities at each interest rate### We need to find the interest rate at which the quantity of financial capital demanded matches the quantity of financial capital supplied from the given table.- At 10%, demand is 500 billion.- At 12%, demand is 600 billion.- At 13%, demand is 700 billion.- At 14%, demand is 800 billion.## Step 3: Determine the equilibrium interest rate### From the comparison, we see that at an interest rate of 13%, the quantity of financial capital demanded ( 700 billion).