PRO RATA Definition

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PRO RATA is the basis for allocating an amount proportionally to the items involved. An amount may be proportionally distributed to assets, expenses, funds, etc.

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DEPOSITORY ACCOUNT are those accounts where assets; e.g. cash or securities; are placed on deposit in favor of the depositor.

MONEY MARKET FUND is a fund that invests in various short-term debt instruments, i.e., commercial paper, negotiable certificates of deposit, bankers acceptances, Treasury bills, etc. Shares seek to maintain a net asset value of $1 but the interest rate changes daily.

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