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Financial institutions hold a portfolio comprising the following securities: 100 million bonds with duration 4 years 300 million securities with duration 8 years 400 million

Financial institutions hold a portfolio comprising the following securities:

100 million bonds with duration 4 years

300 million securities with duration 8 years

400 million bonds with duration x years

What is the value of x if the duration of the total portfolio is 8 years?

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