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Duration is important in bond portfolio management because 1) it can be used in immunization strategies. II) it provides a gauge of the effective average

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Duration is important in bond portfolio management because 1) it can be used in immunization strategies. II) it provides a gauge of the effective average maturity of the portfolio. III) it is related to the interest rate sensitivity of the portfolio. IV) it is a good predictor of interest-rate changes. Select one: A. I, II, and III B. III and IV C. I and II D. I and III E. I, II, III, and IV

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