Illustrate what amount will the student receive at the time

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Reference no: EM13128451

On August 1, a student signed a lease for an apartment for a period of three years. Under the lease agreement, a security deposit of $500 is required with the deposit to be returned at the expiration of the lease, with 10% interest compounded semiannually. What amount will the student receive at the time the lease expires?

Reference no: EM13128451

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Illustrate what amount will the student receive at the time : Under the lease agreement, a security deposit of $500 is required with the deposit to be returned at the expiration of the lease, with 10% interest compounded semiannually. Illustrate what amount will the student receive at the time the lease expi..

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