Chapter 6, Problem 8AA

To determine

To choose: The correct term that best completes the given sentence.

Answer to Problem 8AA

The correct term that best completes the given sentence is contribute.

Explanation of Solution

Individual taxpayers may set either Roth or traditional IRAs, whereas "SIMPLE IRAs" and "SEP" are set up by small businesses and self-employed people. To provide these accounts an "IRA" must be created via an agency that has obtained Internal Revenue Service (IRS) approval. Decisions involve banks, brokerage houses, credit unions governed by the Government and loan and savings organizations. Many investors launch IRAs which are brokered

Economics Concept Introduction

Introduction: Assets of IRA can comprise financial products, including Bonds, mutual funds, stocks and ETFs, Individual taxpayers can set up either Roth or traditional IRAs. Self-directed IRAs help shareholders to make decisions and give them access to a wide variety of assets, like tax liabilities, private placements and real estate.