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Question:
The duration of Renburg's bond portfolio is closest to:
A
6.8
explanation
Portfolio duration is the weighted average of component securities, using full prices: (2,400,000 / 7,200,000) x 4.625 + (3,600,000 / 7,200,000) x 7.322 + (1,200,000 / 7,200,000) x 9.3 = 6.753.
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