The dollar amount invested in mutual funds is about the same as the total assets of all commercial banks at the beginning of 2004.

Question

Quizplus · Accepted Answer

According to a report by the Federal Reserve, the total assets of commercial banks in the U.S. at the beginning of 2004 was approximately $8.3 trillion, while the Investment Company Institute reported that the dollar amount invested in mutual funds was approximately $8.2 trillion. Therefore, the statement is true.

The Dollar Amount Invested in Mutual Funds Is About the Same