Fred and Flossie Are Married and Their Adjusted Gross Income

question 10

Multiple Choice

Fred and Flossie are married and their adjusted gross income is $189,000.Both Fred and Flossie are active participants in their company's qualified pension plan and have never established an Individual Retirement Account.What is the maximum combined amount they can contribute to Roth IRAs?

• A)$ - 0 -
• B)$ 2,000
• C)$ 5,500
• D)$ 8,000
• E)$11,000

---

Definitions:

NaOH

Sodium hydroxide, a strong base used in various industrial and chemical processes, including soap making and pH adjustment.

Solution

A uniform mixture of two or more substances where one substance is dissolved in another.

Solution

A homogeneous mixture of two or more substances where the solute is dissolved in the solvent.

Neutral Solution

A solution that has a pH of 7, indicating no acidic or alkaline qualities.