Check Your Understanding 1. a) Copy Figure 4.10 (below) into your notebook and fill in the Surplus/Shortage column. What is the equilibrium price? 2. Economists are not generally supportive of governments interfering in markets in order to set prices. Using the example in question 1, explain what undesirable results might occur if the school simply declared a price for cafeteria foods. b) Draw a demand and supply graph for this information. Shade in the area that represents a surplus in this market and the area that represents a shortage when market prices of $1.80 and $1.00 are considered. Quantity Surplus/ Quantity Demanded Price Supplied Shortage $2.00 100 190 $1.80 120 180 $1.60 140 170 $1.40 160 160 $1.20 180 150 $1.00 200 140 $0.80 220 130 Figure 4.10 Demand and supply for hot dogs in a school cafeteria.

Subject - advanced math   Frank's loan pay off is to be made in two installments: $2500 in a year, and $3500 in 3 ½year. After talking to his loan officer, it was decided that he could pay both installments in 20months. How much would he pay if his loan is processed at 7 ¼ simple interest. Draw a timelineto illustrate your solution.

You deposit $ 9,030 in an account that pays 3 % simple interest.  How much do you have after 4 years?  If needed, round your answer to zero decimal places.

$200 is not the correct answer. Please credit my account for the wrong answer provided.