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A boy wants to join guitar classes while completing his under-graduation. He has ?$60,000 ?with him. He needs ?$1,000 ?every month to pay of his tuition and to cover his expenses for the guitar classes. What is the required simple interest rate per year for him to earn ?$1,000 ?every month? Assume the student wants to pay for his tuition and his guitar classes from the interest earned only.
This document contains various important questions and their appropriate answers in the subject field of Economics.
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