$($a$)$

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What is the future value of $22$ periodic payments of $$4,140$ each made at the beginning of each period and compounded at $8\%?$

$($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal places, e$.$g$.458,581.)$

The future value

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$($b$)$

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$($a$)$

Coronado 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 $$14,850$ is made, with the deposit to be returned at the expiration of the lease, with interest compounded at $5\%$ per year.

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What amount will the company receive at the time the lease expires? $($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal places, e$.$g$.458,581.)$