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 $4,900 from a $70,000  account set up by her grandparents to help fund his education. From this educational account $20,000 is invested in a secure Treasury bond earning 4.5% yearly interest. What rate of return must he earn on the rest of this investment to produce the yearly income of $4,900?

1 Expert Answer

By:

Sanhita M. answered • 07/21/16

Tutor
4.7 (11)

Mathematics and Geology

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