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An investor has 3,000 worth of 5-year bonds with a modified duration of 4.615; 7,000 worth of 10-year bonds with a modified duration of 9.323;

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An investor has 3,000 worth of 5-year bonds with a modified duration of 4.615; 7,000 worth of 10-year bonds with a modified duration of 9.323; and 10,000 worth of 20-year bonds with a modified duration of 19.085. What is the modified duration of this entire portfolio? A) 13.5 B) 13.7 C) 13.9 D) 14.1 E) 14.3

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