5-64 Mutual funds that purchase Treasury bills,bank certificates of deposit,commercial paper,and other short-term securities would be classified as

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Mutual funds that invest in short-term securities such as Treasury bills, bank certificates of deposit, and commercial paper are typically classified as money market funds. These funds are designed to provide investors with a low-risk, short-term investment option that offers higher returns than traditional savings accounts or money market accounts. Money market funds are regulated by the Securities and Exchange Commission (SEC) and are required to maintain a stable net asset value (NAV) of $1 per share.

5-64 Mutual Funds That Purchase Treasury Bills,bank Certificates of Deposit,commercial