Question

The Garret family wants to take advantage of their state's to pay for their child’s college tuition.

Answer 1

Answer: 529 Plan

Explanation:

Full Question:

The Garret family wants to take advantage of their state's ____ to pay for their child’s college tuition.

A) 529 plan

B) CD's

C) Traditional IRA

D) Roth IRA

The Garret family will take benefit from the 529 plan as it is a college savings plan declared by each state. They are the most common owned plan since it allows the investment grow tax free and is able to withdraw the funds tax free for the purpose of education like tuition fees and other educational purpose.

Since the Garret family wants to take advantage of child's college tuition 529 plan is the best plan and will chose this.