What Is the Maximum Deductible Contribution That Erick (Age 32

question 13

Multiple Choice

What is the maximum deductible contribution that Erick (age 32 and single) can make in 2013 to an Individual Retirement Account(s) if he earns $61,000 and is not covered by an employer-sponsored retirement plan?

• A)$6,500 ($5,500 plus an extra $1000 catch-up contribution)to a traditional IRA and zero to a Roth IRA
• B)$5,500 to a traditional IRA but only $1,500 additional to a Roth IRA
• C)$5,500 to a traditional IRA
• D)$4,500 to a traditional IRA due to the income limitation

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Definitions:

Sweetness

A quality of having a pleasant or sugary taste.

Neurotransmitter

Chemicals in the nervous system that transmit signals from one neuron to another across synapses.

Behavioral Effects

The impacts or changes in behavior that result from exposure to a stimulus or from participation in a specific behavior.

Dopamine

A neurotransmitter in the brain that plays a major role in reward-motivated behavior, movement, and cognition.