The sensitivity of a security's price to a change in long- term interest rates declines with the term to maturity.

Name: The sensitivity of a security's price to a change in long- term interest rates declines with the term to maturity.
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The sensitivity of a security's price to changes in interest rates, known as duration, typically increases with the term to maturity. Longer-term securities are more sensitive to interest rate changes.

The Sensitivity of a Security's Price to a Change in Long-