Question: Eastern Bank holds assets and liabilities whose average duration's and dollar amounts are as .7 shown in this table Avg. Duration(yrs) S Amount Asset

Eastern Bank holds assets and liabilities whose average duration's and dollar amounts

Eastern Bank holds assets and liabilities whose average duration's and dollar amounts are as .7 shown in this table Avg. Duration(yrs) S Amount Asset and Liability Items Investment Grade Bonds 3.00 Commercial Loans $75.00 15.00 $500.00 $350.00 6.00 Consumer Loans $450.00 $250.00 2.10 Deposits Non-deposit Borrowings 0.35 a- What is the weighted average duration of Eastern Banks asset portfolio and liability ?portfolio

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