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asked • 07/21/16

Algebra help, Income earned on an IRA investment

I need some help on setting up this problem, and how to find the formula to get the correct answer..

Here it is: A retiree needs a yearly income of $10,200 from his $150,000 IRA to help fund his retirement. HE has placed $60,000 of this account in a secure Treasury bond earning 5% yearly interest. What rate of return must he earn on the rest of the investment to reach his $10,200 income goal?

1 Expert Answer


Edwin R. answered • 07/21/16

New to Wyzant

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