What are the general purposes of using mutual funds in individual investment portfolios?

Read Chapter 17 (link: https://saylordotorg.github.io/text_personal-finance/s21-investing-in-mutual-funds-comm.html)

For this discussion, answer the following:
What are the general purposes of using mutual funds in individual investment portfolios?

Be sure to use in-text citation and provide references for your sources, including textbooks.

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