Problem regarding lease expires

Reference no: EM13135308

Underwood Company maintains its accounting records using iGAAP. The 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 $15,000 is made, with the deposit to be returned at the expiration of the lease, with interest compounded at 10% per year. What amount will the company receive at the time the lease expires?

Reference no: EM13135308

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