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The United States Tax Code allows individuals to save money for retirement and shelter it from tacation. Two types of Individual Retirement Arrangements are Roth

The United States Tax Code allows individuals to save money for retirement and shelter it from tacation. Two types of Individual Retirement Arrangements are Roth IRAs and Traditional IRAs. John, a single man, is not covered by another qualified plan and earned $120,000 at his job in 2017. How much can he contribute to a traditional IRA or to a Roth IRA in 2017?

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