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The deposit will be returned at the expiration of the lease

Joyce Company signed a lease for an office building for a period of 12 years. Under the lease agreement, a security deposit of $9,200 is made. The deposit will be returned at the expiration of the lease with interest compounded at 4% per year. What amount will Joyce receive at the time the lease expires?

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Accounting Basics: The deposit will be returned at the expiration of the lease

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