SOLUTION: Philip wants to supplement his pension by ​$480 per month with income from his investments. His investments pay him monthly and earn 11.5 % p.a. What value of investments must Ph
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Question 1138293: Philip wants to supplement his pension by ​$480 per month with income from his investments. His investments pay him monthly and earn 11.5 % p.a. What value of investments must Philip have in his portfolio to generate enough interest to give him his desired​ income?
Answer by ikleyn(52921) (Show Source): You can put this solution on YOUR website!
.
This problem is posed INCORRECTLY, since it says nothing
about the duration of the period of time Philip wants withdraw from his account.
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