Since your first birthday, your grandparents have been depositing $ 120 into a savings account every month. The account pays 6% interest annually. Immediately after your grandparents make the deposit on your 18th birthday, the amount of money in your savings account will be closest to:

FV= $46,482.38

Explanation:

Giving the following information:

Monthly deposit= $120

Interest rate= 0.06/12= 0.005

Number of periods= 18*12= 216

To calculate the future value of the investment, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

FV= {120*[(1.005^216) - 1]} / 0.005

FV= $46,482.38

explanation:

a gas is not used in hydraulic machines as the fluid because gas is easily compressible and so if a gas is used, the energy would mostly go into compressing a gas. therefore a liquid is used in hydraulic machines as the fluid.

answerjointly by the fed and by the behavior of individuals who hold money and of banks in which money is held;