In general, duration is the number of years, on a future-value basis, that it takes to recover an initial investment in a bond.

Name: In general, duration is the number of years, on a future-value basis, that it takes to recover an initial investment in a bond.
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Duration represents the weighted average life of a bond where the weights are based on the present value of the individual cash flows relative to the present value of the total cash flows.

In General, Duration Is the Number of Years, on a Future-Value