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Mayer Company signed a lease for an office building for a period of 9 years. Under the lease agreement, a security deposit of $9,800 is
Mayer Company signed a lease for an office building for a period of 9 years. Under the lease agreement, a security deposit of $9,800 is made. The deposit will be returned at the expiration of the lease with interest compounded at 6% per year. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount will Mayer receive at the time the lease expires?
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