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Duration (Macaulay duration) measures the price volatility of fixed income securities. It is often used in the comparison of the interest rate risk between securities with different coupons and different maturities. It is the weighted average of the present value of all the cash flows associated with a fixed income security. It is expressed in years. The duration of a fixed income security is always shorter than its term to maturity, except in the case of zero coupon securities where they are the same
Statement: The poor identification of vulnerable low lying areas was one of the many factors that led to the massive floods.
Statement : As a protest, hundreds of farmers headed to the City centre seeking a permanent solution to their water woes.
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