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An investor purchases three bonds for a portfolio as follows: a. Bond A has a semi-annual coupon of 4%, duration of 21.46 years and was
An investor purchases three bonds for a portfolio as follows: a. Bond A has a semi-annual coupon of 4%, duration of 21.46 years and was purchased for 980. b. Bond B is a 15-year bond with a duration of 12.35 years purchased fo 1015. c. Bond C has duration of 16.67 and was purchased for 1000. Calculate the portfolio duration at the time of purchase
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