Question

Victor is a mechanic who wants to ensure he has enough funds during his old age. Which account will be of benefit to Victor?

A.
checking account
B.
savings account
C.
money market account
D.
individual retirement account

Answer 1

The most appropriate answer option is D. Individual Retirement Account.

Explanation:

We know that Victor is a mechanic and he wants to make sure that he has enough funds during his old age.

For this purpose, an Individual Retirement Account (IRA) would be the most suitable and beneficiary for him.

An Individual Retirement Account is a type of account that is tax advantaged and aims to help people save for their post retirement life.

Answer 2

D.

individual retirement account

Explanation:

The account that will be beneficial to Victor, to ensure he has enough funds during his old age, is the individual retirement account(IRA).