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What makes duration of a bond different from its term to maturity? Answer must be limited to one sentence. If bond P has a 12
What makes duration of a bond different from its term to maturity? Answer must be limited to one sentence. If bond P has a 12 percent coupon and term-to-maturity 8 years while bond Q has a 17 percent coupon and term-to-maturity 11 years, which bond has shorter duration and why?
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