The duration is independent of the coupon rate only for which one of the following?

Question

Quizplus · Accepted Answer

Perpetuities have no maturity date so their duration is not affected by changes in their coupon rate. Discount bonds have a longer duration as their cash flows are distant in time, while premium bonds have a shorter duration as their cash flows are closer in time. Short term bonds have a lower sensitivity to changes in interest rates, but their duration is still affected by changes in their coupon rate.

The Duration Is Independent of the Coupon Rate Only for Which