On Centenarians; and the Duration of the Human Race: A Fresh and

Effective Duration Effective duration further refines the modified duration calculation and is particularly

The length of the duration is stored using two fields

duration As the table below shows, the shorter a bond's duration, the less volatile it is likely to be For example, a bond with a one-year duration would only lose 1%

duration Duration indicates the years it takes to receive a bond's true cost, weighing in the present value of all future coupon and principal payments