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Manufacturing company borrows 5 million euros from the bank to fight the consequences of the corona virus. The repayment schedule is based on an annuity.

Manufacturing company borrows 5 million euros from the bank to fight the consequences of the corona virus. The repayment schedule is based on an annuity. The interest rate is 10% and the loan is paid back with 6 annual payments.

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* What is the loan balance immediately the first loan payment is made?

please dont do it in excel

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