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Billy Bob bank has three assets. It has $78 million invested in consumer loans with a 3-year duration, $41 million invested in T-Bonds with a
Billy Bob bank has three assets. It has $78 million invested in consumer loans with a 3-year duration, $41 million invested in T-Bonds with a 13-year duration, and $52 million in 6-month (0.5 years) maturity T-Bills. What is the duration of the bank's asset portfolio in years? (answer to 2 decimal points x.xx).
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