Philip wants to supplement his pension by $415 per month with income from his investments. His inves

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Philip wants to supplement his pension by $415 per month with income from his investments. His inves

Philip wants to supplement his pension by $415 per month with income from his investments. His investments pay him monthly and earn 8 1/2% p.a. What value of investments must Philip have in his portfolio to generate enough interest to give him his desired income?

The value of investments must be: ?

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