Question

What is an incentive for a person to contribute to an IDA? It earns the highest interest rates available at a bank. It is good for the government. An organization matches the amount deposited. The interest on the account is not taxed.

Answer 1

Answer:

The answer is: An organization matches the amount deposited.

Explanation:

Individual Development Accounts (IDAs) are used by low income savers for predefined purposes such as buying a house or starting a small business. The greatest advantage of IDAs is that another organization (e.g. foundations, government, corporations) agrees to deposit money in the account that match the amount deposited by the saver.

Answer 2

The correct answer for the question that is being presented above is this one: "An organization matches the amount deposited." An incentive for a person in order to contribute to an IDA is that an organization matches the amount deposited.