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Compare and contrast the following: (1) Open-end funds (2) Closed-end funds (3) Index funds (4) ETFs. Explain the underlying working mechanism of these funds. Be

Compare and contrast the following: (1) Open-end funds (2) Closed-end funds (3) Index funds (4) ETFs. Explain the underlying working mechanism of these funds. Be sure to discuss the characteristics and features associated with each type of funds.

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