How do I solve
Flint Company recently signed a lease for a new office building, for a lease period of 12 years. Under the lease agreement, a
security deposit of $ 14,400 is made, with the deposit to be returned at the expiration of the lease, with interest compounded at
5% per year
Homework Answers
Ans:
Computation of the amount received by DW Company As Follows
The amount to be received at the end of Year 12=Principal *Compound interest factor @5% for 12 years
=$14400 * 1.795856 = $25860.3264
Thus Amount receivable by DW company after 12 years is $25860 (If rounded off)
Table:
| Year | Compounded Interest Factor @5% |
| 1 | 1.05 |
| 2 | 1.1025 |
| 3 | 1.1576 |
| 4 | 1.2155 |
| 5 | 1.27628 |
| 6 | 1.340095 |
| 7 | 1.4071 |
| 8 | 1.477455 |
| 9 | 1.551328 |
| 10 | 1.6288946 |
| 11 | 1.7103393 |
| 12 | 1.795856 |
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