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Bridgeport Company recently signed a lease for a new office building, for a lease period of 10 years. Under the lease agreement, a security deposit
Bridgeport Company recently signed a lease for a new office building, for a lease period of 10 years. Under the lease agreement, a security deposit of $12,950 is made, with the deposit to be returned at the expiration of the lease, with interest compounded at 5% per year. What amount will the company receive at the time the lease expires? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)
The company will receive |
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