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.. this sounds like a different language like where do I start? Can I put this in a table or a chart to get the equations? 

Here it is: A student receives a yearly income of $4,000 from an account set up by her grandparents to help fund her education. From this educational account $10,000 is invested in a secure Treasury bond earning 5.5% yearly interest. If she earns a 6% rate of return on the rest of this educational account through a corporate bond, what is the principal that is invested in the corporate bond? 

1 Expert Answer

By:

Edwin R. answered • 07/21/16

Tutor
New to Wyzant

Math Tutoring Only

Still looking for help? Get the right answer, fast.

Ask a question for free

Get a free answer to a quick problem.
Most questions answered within 4 hours.

OR

Find an Online Tutor Now

Choose an expert and meet online. No packages or subscriptions, pay only for the time you need.