Mayer Company signed a lease for an office building for a period of 12 years. Under the
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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 Mayer receive at the time the lease expires?
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Accounting Tools for Business Decision Making
ISBN: 978-1118128169
5th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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