A portfolio consists of three bonds as follows.
amount invested bond duration
Bond X $ 5,000 8.6 years
Bond Y $ 4,000 4.2 years
Bond Z $ 1,000 11.4 years

What is the duration of the bond portfolio?
A) 7.12 years
B) 8.07 years
C) 8.69 years
D) 11.4 years



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