A bank agrees to lend 20,000 now and X three years from now in exchange for a single repayment of 80,000 at the end of 13 years. The bank charges interest at an annual effective rate of 4.35% for the first 8 years and at a force of interest 2 6, . 1 + 5 Calculate X O 11,000 13,000 15,000 17,000 19,000