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46) You have gathered the following market value and duration information on the Eastern Bank: Calculate the duration of the bank's assets and of its
46) You have gathered the following market value and duration information on the Eastern Bank:
Calculate the duration of the bank's assets and of its liabilities.
| Assets: | Market Value in Millions | Duration |
| Overnight Money | 3.1 | 0 |
| 1-yr Treasury Sec. | 7.4 | 0.6 |
| Loans | 18.6 | 2.1 |
| Mortgages | 9.3 | 7.6 |
| 35.3 | ||
| Liabilities: | Market Value in Millions | Duration |
| Checking | 14.6 | 0 |
| Short-term CDs | 4.1 | 0.3 |
| Long-term CD's | 11.6 | 3.1 |
| 15.7 |
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Teaching Public Budgeting And Finance
Authors: Meagan M. Jordan, Bruce D. McDonald III
1st Edition
1032146680, 978-1032146683
