Duration measures how long it takes, in years, for an investor to be repaid the bond's price by the bond's total cash flows. The duration is the weighted average time until all the bond's cash flows are paid. By accounting for the present value of future bond payments, the Macaulay duration helps an investor evaluate and compare bonds independent of their term or time to maturity. Determine the duration of a four year, 10% coupon bond. Face value is $,9000