What Is the One Requirement to Opening a Traditional or a Roth

question 42

Multiple Choice

What is the one requirement to opening a traditional or a Roth IRA?

• A)You must have money with which to open the account.
• B)You must have earned income.
• C)You must be 16 years old.
• D)You must have a parent cosign for you.

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Definitions:

Opportunity Loss Table

A table used in decision making to show the lost opportunities or costs associated with not choosing the best alternative.

Expected Monetary Value(EMV)

A method employed in making decisions that calculates the mean result in situations where the future holds potential but uncertain events.

Expected Monetary Value

The predicted average amount of money gained or lost from an investment or decision, calculated by considering all possible outcomes and their probabilities.

Gross Profits

Total revenue of a company minus the cost of goods sold.