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Marigold Corp. signed a lease for an office building for a period of 9 years. Under the lease agreement, a security deposit of $7,200 is
made. The deposit will be returned at the expiration of the lease with interest compounded at 6% per year.
Click here to view the factor table 1.
Table 2
Table 3
Table 4
What amount will Marigold receive at the time the lease expires? (For calculation purposes, use 5 decimal places as displayed in the factor
table provided, e.g. 5.25741. Round answer to 2 decimal places, e.g. 25.25.)
Amount at the time the lease expires
$