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24) 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

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24) 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) 8.07 years B) 11.4 years C) 7.12 years D) 8.69 years

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