The Maximum Amount That Can Be Contributed to an IRA

question 41

Multiple Choice

The maximum amount that can be contributed to an IRA is:

• A)2% of your salary or $3,000, whichever is less
• B)$3,000 in 2004, and $5,000 after 2004
• C)$3,000, but that will increase to $5000 in 2008
• D)$3,000 in 2004, and then it increases $500 per year through 2010

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Definitions:

Electrical Signals

Electrical signals are impulses generated by the movement of ions across cell membranes, commonly found in nerve and muscle cells, facilitating communication within the body.

Neurotransmitters

Chemical messengers that transmit signals across a synapse from one neuron to another.

Paracrines

Signaling molecules released by cells that affect other nearby cells.

Hormones

Chemical messengers produced by the endocrine glands that regulate various bodily functions and processes.