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LEX K.

asked • 07/21/16

Algebra help, Income earned on an IRA investment help?

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 $13,o00 from her IRA to help fund her retirement. She has placed $50,000 of this IRA in a secure Treasury bond earning 5% yearly interest. If she earns a 7% rate of return on the rest of this IRA through an insurance annuity, what is the principal that is invested in the insurance annuity? 

1 Expert Answer

By:

Edwin R. answered • 07/21/16

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