Answer:
APR, or annual percentage rate, is your interest rate stated as a yearly rate. An APR for a loan can include fees you may be charged, like origination fees. APR is important because it can give you a good idea of how much you'll pay to take out a loan.
Let me help you with this :)
John = x
Mike = y
x = 4 + 3y (4 more than 3 times)
x + y = 20 (we put the x above into this equation)
4 + 3y + y = 20
4y = 16 (we transfers the 4 on the left side to the right side and subtract it from the 20)
y = 4 (the answer is 4)
we use this for the equation:
x = 4 +3*4
x = 16
John is 16 years old and Mike is 4 years old :)
Answer:
The approximate monthly rate of growth is 1.24%
Step-by-step explanation:
we have the future value formula

we have
----> annual interest rate
so


Find the approximate monthly rate of growth
Remember that

so
Divide the number of periods t by 12

Applying power rules property



Convert to percentage

therefore
The approximate monthly rate of growth is 1.24%
Answer:
D
Step-by-step explanation: