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A grandfather wants to give his grandson 100,000 EUR at his thirtieth birthday. How much does he need to invest on the grandsons eighteenth birthday

A grandfather wants to give his grandson 100,000 EUR at his thirtieth birthday. How much does he need to invest on the grandsons eighteenth birthday if the bank offers a rate of interest of 6 per cent p.a.? What interest rate will turn 2,000 EUR into 3,582 EUR after ten years?

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