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Savoir Bank has $16 million loans with duration of 8.26 years. It also has assets comprising cash of $20mn, $12mn zero coupon bonds maturing in

Savoir Bank has $16 million loans with duration of 8.26 years. It also has assets comprising cash of $20mn, $12mn zero coupon bonds maturing in 10 years time and finally 10 year T-bonds amounting to $15mn with duration of 8.9 years.

What is the duration of Savoir Bank's assets? (Give your answer to 2 decimal places and do not include the unit "years" in your answer.)

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