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The duration for the CD of Bank B is calculated above to be 7.001 years. Since the bond is a zero-coupon, the duration is equal to the maturity of 7 years. Using the duration formula to estimate the change in value: Bond: (Value =.
Definition of 'Duration'. Definition: As the term suggests, it is expressed in the form of number of years and measures a bond's sensitivity to change in interest rates. To be specific, it measures the change in market value of security due to 1% change in interest rates. Description: Usually, the higher the duration, the more is the volatility in the prices.