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Money market mutual funds carlos invested 5000 in a money

Question: MONEY MARKET MUTUAL FUNDS Carlos invested $5000 in a money market mutual fund that pays interest on a daily basis. The balance in his account at the end of 8 mo (245 days) was $5170.42. Find the effective rate at which Carlos's account earned interest over this period (assume a 365-day year).

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Mathematics: Money market mutual funds carlos invested 5000 in a money

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