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Flounder company recently signed a lease for a new office

Question - Flounder Company recently signed a lease for a new office building, for a lease period of 12 years. Under the lease agreement, a security deposit of $12,890 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?

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Accounting Basics: Flounder company recently signed a lease for a new office

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