Jake Invested $800 in an IRA

question 48

Multiple Choice

Jake invested $800 in an IRA.If he has a 15% marginal tax rate and the contribution is tax deductible,Jake will

• A) pay $120 more in taxes.
• B) pay $120 less in taxes.
• C) receive no change to his tax liability.
• D) have $800 more in adjusted gross income.

---

Definitions:

Curriculum Areas

Specific subjects or fields of study within an educational program or institution.

Fields Of Practice

Various areas within a profession where practitioners can specialize, such as healthcare, social work, or law.

Forensic Social Work

A field of social work that involves engaging with legal systems, including providing testimony, reports, and support to clients involved in legal proceedings.

Mezzo-Level Skills

Abilities focused on working with small groups, such as families or teams, to facilitate change or provide services within a community or organizational context.