Answered

Question 10 (5
Which of the following is intended primarily to enhance a person's tax advantage and
retirement income?
A) U.S. Savings Bond
B) Growth fund
C) IRA
D) Money market fund



Answer :

GinnyAnswer

Final answer:

IRAs are designed to boost tax advantages and retirement income by offering tax-free growth and higher interest rates compared to taxed returns.


Explanation:

Individual Retirement Accounts (IRAs) are primarily intended to enhance a person's tax advantage and retirement income. IRAs allow savings to grow tax-free, resulting in higher interest rates compared to taxed returns, thus stimulating saving for retirement. Contributions to IRAs are tax-deductible, and taxes are paid only upon withdrawal, encouraging long-term saving.


Learn more about Individual Retirement Accounts (IRAs) here:

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