James Gray Has a Mutual Fund That Automatically Takes $50

question 4

Multiple Choice

James Gray has a mutual fund that automatically takes $50 out of his paycheck each month.Which suggestion for obtaining the money he needs for investing is he following?

• A)Taking advantage of gifts,inheritance and other windfalls
• B)Taking advantage of employer-sponsored retirement programs
• C)Participating in an elective savings program
• D)Making a special effort once or twice a year to save
• E)Using financial leverage to increase investment returns

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Definitions:

Mailbox Rule

A legal doctrine stating that an offer is considered accepted when the acceptance is dispatched, not when it is received by the offeror.

Cell Phone Number

A unique numerical identifier assigned to a mobile phone or similar wireless device.

Hula Hoop

A toy hoop that is twirled around the waist, limbs, or neck, popularized as both a children's activity and an exercise tool.

Rebate

A partial refund to someone who has paid too much money for tax, rent, or a utility.