单选题
A portfolio consists of four bonds with the following characteristics:
| Bond | Market Value | Duration |
| A | $1.2 million | 3.2 |
| B | $3.4 million | 7.6 |
| C | $2.9 million | 12.4 |
| D | $1.6 million | 1.5 |
The duration of the portfolio is closest to:
【正确答案】
C
【答案解析】
C is correct because the duration of a portfolio is the weighted average of the bonds' durations where the weight for each bond is its contribution to the portfolio's value or lue or
