Eposit to be returned at the expiration of the lease

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Reference no: EM131287736

Cullumber Company recently signed a lease for a new office building, for a lease period of 10 years. Under the lease agreement, a security deposit of $13,450 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?

(Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places)

Reference no: EM131287736

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