XXI. If you have an automobile insurance policy with a deductible of $1000 and coverage of $100,000,

a. you must pay $1,000 out of pocket before the insurance company begins to pay, and they will pay up to $100,000 in the event of a loss.

b. you must pay $100,000 out of pocket before the insurance company begins to pay, and they will pay up to $1,000 in the event of a loss.

c. you must pay $1,000 per year to be insured, and the insurance company will pay up to $100,000 per year in the event of a loss.

d. you must pay $1,000 per year to be insured, and the insurance company will charge an additional $100,000 per year if you do not pay on time.

The funds paid into a Roth IRA will

a. be both tax deductible against current income and the savings for retirement will grow tax-free.

b. not affect your current tax liability, but the retirement savings will grow tax-free.

c. reduce your current tax liability, but the retirement withdrawals from the account will be taxable.

d. increase your current tax liability, but your future tax liability will be unaffected.