Examlex
Which of the following is a taxable fringe benefit when paid by the employer?
Duration
A measure of the sensitivity of the price of a bond or other debt instrument to a change in interest rates, expressed in years.
Today's Dollars
An amount of money adjusted for inflation to reflect current purchasing power, often used to compare money values at different times.
Investment
The allocation of resources, such as capital or time, in anticipation of generating income or profit.
Modified Duration
A measure of the sensitivity of a bond's price to a change in interest rates, adjusting for the fact that the bond's cash flows change as yields change.
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