Which of the Following Is(are)a Feature of an Education IRA

question 127

Multiple Choice

Which of the following is(are) a feature of an Education IRA?

• A)tax-deferred interest and earnings
• B)10% early withdrawal penalty waiver when money is used for higher-education
• C)annual limit on individual contributions
• D)non-deductible contributions
• E)all of the features listed in the other answers

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Definitions:

Normal Good

A type of good for which demand increases when consumer income increases, and decreases when consumer income decreases, assuming all other factors remain constant.

Recession

A significant decline in economic activity spread across the economy, lasting more than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

Quantity

The amount or number of a material or immaterial good considered as a unit or in total.

Corn Seed

The seed of the corn plant, used for planting to produce corn crops; an essential agricultural product.