Manpreet is a target-oriented young investor who has real estate investments across Australia. Having houses, apartments, and townhouses in her portfolio, she is now dreaming of adding commercial property investments in regional Victoria, as commercial property investments in major cities in Victoria are expensive.Apart from her wealth in investment properties, she has $525,000 in savings. She is not in a hurry and plans to purchase a commercial property investment in 5 years. Her current savings earn a 7% return per annum.The value of the commercial investment is estimated to be 1.25 million in 5 years from now, and she plans to use her current savings of $525,000 and the accumulated interest to invest in this new investment. To fill the gap, she plans to invest an equal amount at the end of each month for a 5-year period, where this investment guarantees an 8.5% return per annum, compounded on a monthly basis, in a high-risk investment avenue.Required:I.Calculate the monthly investment needed to reach her target after taking her current savings and the return on that savings into account.