A company must repay the bank a single payment of $18,000 cash in 3 years for a loan it entered into

 
   

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A company must repay the bank a single payment of $18,000 cash in 3 years for a loan it entered into. The loan is at 10% interest compounded annually. The present value factor for 3 years at 10% is 0.7513. The present value of the loan (rounded) is:$18,000.$23,400.$12,600.$16,200.$13,523.