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

---

Definitions:

College Graduate

An individual who has completed a course of study at a college or university and received a degree.

Upper-Level Manager

A high-level executive who is responsible for overseeing the strategic direction and decision-making within an organization.

Higher-Quality Paper

Paper that is thicker, stronger, or smoother than average, often used for professional printing or premium publications.

Pastel Colour

A soft, light shade of color, typically used in art and decoration for its soothing qualities.