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Concord Company recently signed a lease for a new office building, for a lease period of 11 years. Under the lease agreement, a security deposit
Concord Company recently signed a lease for a new office building, for a lease period of 11 years. Under the lease agreement, a security deposit of $12, 230 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 o decimal places, e.g. 458, 581.) Marigold Corporation, having recently issued a $20, 103, 400, 15-year bond issue is committed to make annual sinking fund deposits of $612, 700. The deposits are made on the last day of each year and yield a return of 10%. Will the fund at the end of 15 years be sufficient to retire the bonds? Future value of an ordinary annuity Will funds be sufficient
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