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Cullumber Company signed a lease for an office building for a period of 9 years. Under the lease agreement, a security deposit of $10,400 is
Cullumber Company signed a lease for an office building for a period of 9 years. Under the lease agreement, a security deposit of $10,400 is made. The deposit will be returned at the expiration of the lease with interest compounded at 10% per year. Click here to view the factor table Future Value of 1 Click here to view the factor table Future Value of an Annuity of 1 For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount will Cullumber receive at the time the lease expires? (Round answer to 2 decimal places, eg. 25.25.) $ Amount at the time the lease expires 24552.66
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