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Pharoah Company signed a lease for an office building for a period of 15 years. Under the lease agreement, a security deposit of $9,100 is
Pharoah Company signed a lease for an office building for a period of 15 years. Under the lease agreement, a security deposit of $9,100 is made. The deposit will be returned at the expiration of the lease with interest compounded at 5% 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 Pharoah receive at the time the lease expires? (Round answer to 2 decimal places, eg. 25.25.) $ Amount at the time the lease expires
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