单选题
The table below provides information about a portfolio of three bonds.
| Bond | Maturity | Price | Par Amount | Duration |
| 17-year | $109.2461 | $16million | 8.56 | |
| 20-year | $100.4732 | $4 million | 9.19 | |
| 25-year | $84.6427 | $8million | 11.48 |
Based on this information, the duration of the portfolio is closest to:
【正确答案】
A
【答案解析】
A is correct because the market values of the bonds (Price× Par amount) are 517,479,376, 54,018,928, and 56,771,416, respectively, for a portfolio value of 528,269,720. Therefore, the duration of the Portfolio is
