Provided his $100 budget is for millage only
100/22= $4.54 per day for miles
4.54/0.27= 16.835 miles per day
The given sequence is
a₁, a₂, ...,

Because the given sequence is an arithmetic progression (AP), the equation satisfied is

where
d = the common difference.
The common difference may be determined as
d = a₂ - a₁
The common difference is the difference between successive terms, therefore
d = a₃ - a₂ = a₄ - a₃, and so on..
The sum of the first n terms is

Example:
For the arithmetic sequence
1,3,5, ...,
the common difference is d= 3 - 1 = 2.
The n-th term is

For example, the 10-term is
a₁₀ = 1 + (10-1)*2 = 19
Th sum of th first 10 terms is
S₁₀ = (10/2)*(1 + 19) = 100
Answer: number of years that it will take for the balance to reach $120,000 is 42 years
Step-by-step explanation:
Initial amount deposited into the account is $4000. This means that the principal is $4000
P = 4000
It was compounded annually. This means that it was compounded once in a year. So
n = 1
The rate at which the principal was compounded is 8.4%. So
r = 8.4/100 = 0.084
Let the number of years that it will take for the balance to reach $120,000. It means that it was compounded for a total of t years.
Amount, A at the end of t years is $120,000
The formula for compound interest is
A = P(1+r/n)^nt
120000 = 4000(1 + 0.084/1)^1×t
120000/4000 = 1.084^t
30 = 1.084^t
t = 42 years