State whether each of the following is primarily a savings (S), investment (I), or retirement (R) device by assigning the appropriate letter to each. a. Corporation bonds b. IRA c. US Series EE bonds d. Savings account e. Common stock f. Mutual funds g. Credit union h. Savings and loan association

Respuesta :

The following instruments are classified as follows:

a. Corporation bonds (I)

b. IRA - (R)

c. US Series EE bonds  (I)

d. Savings account (S)

e. Common stock (I)

f. Mutual funds (I)

g. Credit union (S)

h. Savings and loan association (S).

From the above it is clear which instrument is a savings, investment or retirements device.

What is a retirement device?

A retirement device is a device that is used to shoreup funds for a person in view of their retirement.

Hence, from the list above, the retirement device is the IRA- Individual Retirement Account.

Learn more about retirement devices at:
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