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CheyenneCompany recently signed a lease for a new office building, for a lease period of11years. Under the lease agreement, a security deposit of $12,100is made,
CheyenneCompany recently signed a lease for a new office building, for a lease period of11years. Under the lease agreement, a security deposit of $12,100is made, with the deposit to be returned at the expiration of the lease, with interest compounded at5% 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.)
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