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You have been accepted into a great university to study economics. You earned a scholarship for the tuition fees, but you have to relocate, so you need 10.000 euro. Your loving uncle offers to pay this amount and you promise to return everything in four years.

Four years later you have made it to save 10.000 euro, but, meanwhile, you successfully learned that average annual inflation during those years has been 2%.

How much money (approximately) should you repay him to recover his purchasing power?

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