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What amount will wildhorse receive

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Question: Wildhorse Co. signed a lease for an office building for a period of 8 years. Under the lease agreement, a security deposit of $9,000 is made. The deposit will be returned at the expiration of the lease with interest compounded at 9% per year. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.)

What amount will Wildhorse receive at the time the lease expires? (Round answer to 2 decimal places, e.g. 25.25.)

Reference no: EM132086219

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