Keogh Plans Are Intended to Help Small Business Owners Save

question 105

True/False

Keogh plans are intended to help small business owners save for retirement.

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Definitions:

Payments

The transfer of money or its equivalent from one party to another as a fulfillment of an obligation or for the acquisition of goods or services.

Compounded Semiannually

Refers to the process of applying interest to a principal sum twice a year, resulting in an increase in the amount of interest earned or paid.

Semiannual

Occurring twice a year; pertaining to a period of six months.

Interest Earn

The income received by an investor for lending funds or depositing money in interest-bearing accounts.