1. Given the Following table Price - Demand X( hundreds of Price($) flashlights) 0 50.50 5 39 10 31 15 24 20 18.50 25 14 a. Find the demand function that is exponential and fits the data using Excel or calculator. b Find the price if the demand was 700 flashlights. Here is the Supply function: p =10In(x+3) : p: price in dollars x: hundreds of flashlights for same set of flashlights. C. Graph both functions with calculator use Xmin = 0 Xmax = 40 Ymin = 0 Ymax = 60 Copy graph neatly and label axes. d. Find the equilibrium point graphically using your graphing calculator and interpret your answer. Be careful of the units. e. Find the supply and demand when the price is $30 using algebra and both function's equations. Be careful of the units (show algebra steps) f. Given the answers to e. Explain what will happen the price using words like surplus and shortage. 2. Two twin brothers have jobs and want to save for retirement. Bill starts at 25 and goes until he is 70. He puts in $1000 each quarter into an account that pays 9% compounded quarterly. Jim does not start until 40 and so he catches up puts in $2000 each quarter until he is 70. a. Calculate how much each brother has when they retire. b. Did Jim catch up? c. How much did each make in interest? d. What would be your advice to someone saving for retirement? e. Pick one of the brother's and see how much they can withdraw from their account each quarter if they get the same rate and plan to live until 90.3. a. Earlier this year you were looking for a home and decided you could afford a mortgage payment of $1 l per month At that time interest rates on 311:.I year mortgages were 335% compounded monthly. HOW big of a loan could you afford? b. Recently the Fed increased interest rates so now a 3G year mortgage is 5-31% compounded monthly. If you still can only a'ord a $1100 per month payment, how big of a loan couldyounn'w afford? c. Based on your answers what do you think will happen to the housing market?I