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A bank lends a CHF 1000000 loan at an annual interest rate of 4% to a customer. The loan foresees a complete linear repayment over

A bank lends a CHF 1000000 loan at an annual interest rate of 4% to a customer. The loan foresees a complete linear repayment over its term of 5 years. Debt servicing is made once a year in arrear.

Calculate the installment payment and the interest payment at the end of the third year.

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