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What amount will company receive at the time lease expires

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Reference no: EM132181002

Question - Concord Company recently signed a lease for a new office building, for a lease period of 8 years. Under the lease agreement, a security deposit of $25,000 is made, with the deposit to be returned at the expiration of the lease, with interest compounded at 8% per year. What amount will the company receive at the time the lease expires?

Reference no: EM132181002

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