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In order to be able to buy the new machine, you take a loan of 2 million from the bank, which you want to pay

In order to be able to buy the new machine, you take a loan of

2

million from the bank, which you want to pay back in

8

years. Your payments are always made at the end of everyyear. The annual interest rate is

6 % .

What is the annual payment you must make to the bank?

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