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<br />### The equilibrium interest rate occurs where the quantity of financial capital demanded equals the quantity of financial capital supplied.<br /><br />## Step 2: Compare the quantities at each interest rate<br />### 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.<br /><br />- At 10%, demand is $1000 billion and supply is $500 billion.<br />- At 12%, demand is $900 billion and supply is $600 billion.<br />- At 13%, demand is $700 billion and supply is $700 billion.<br />- At 14%, demand is $600 billion and supply is $800 billion.<br /><br />## Step 3: Determine the equilibrium interest rate<br />### From the comparison, we see that at an interest rate of 13%, the quantity of financial capital demanded ($700 billion) equals the quantity of financial capital supplied ($700 billion).