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A Roth IRA: Group of answer choices Limits who can contribute to a Roth IRA based on income. Penalizes early withdrawal...

A Roth IRA:

Group of answer choices

Limits who can contribute to a Roth IRA based on income.

Penalizes early withdrawal of principal.

Can only be used to purchase stocks.

Allows the investor's contributions to be tax deductible.

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Answer #1

Option 1 and 2 are true

Investors are turning beyond a certain income limits are not eligible to contribute to Roth IRA. Individuals who withdraw principal from Roth IRA before reaching a certain age are penalized. Option 3 is incorrect since investment can be made in stocks, and other instruments like bonds and mutual funds also. Option 4 is incorrect since investor contributions are not tax deductible.

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