Question: explanations, definitions , formulas used, graphs where applicable Q2. If a pool of money is shrinking at 10% per annum (compounded monthly) for 10 years,

explanations, definitions , formulas used, graphs where applicable

Q2. If a pool of money is shrinking at 10% per annum (compounded monthly) for 10 years, how much will be left (rounded to the nearest f1) if the pool had f100 to begin with?Q1. The demand function for good 1 is given by (11 = 4101' 3p2y2 Where p1 is the price of good 1, p2 is the price of good 2, and y is income. i. Are goods 1 and 2 complements or substitutes? ii. What is the income elasticity of demand for good 1

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