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A company borrows $1 million at 10% interest and repays the loan in equal installments over 10 years. Payments occur at the end of each

A company borrows $1 million at 10% interest and repays the loan in equal installments over 10 years. Payments occur at the end of each year. How large are the payments annually? What is the amount of loan principal outstanding after payment at the end of the second year?

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