Provide an Appropriate Response

question 20

Multiple Choice

Provide an appropriate response.
-The access code to a house's security system consists of five digits. How many different codes are available if each digit can be repeated?

• A) 32
• B) 45
• C) 5
• D) 100,000
• E) 3125

---

Definitions:

Taxable Money Market Funds

Investment funds that invest in short-term debt securities and are subject to federal and sometimes state income taxes.

Tax-exempt

Income or transactions that are free from tax at the federal, state, or local level.

No-load Mutual Fund

A mutual fund that does not charge any type of sales load or commission, allowing investors to put more of their money directly into investments.

Expense Ratio

The annual fee that mutual funds, index funds, and ETFs charge their shareholders, expressed as a percentage of the fund's average net assets.