Given the Time to Maturity, the Duration of a Zero-Coupon

question 11

Multiple Choice

Given the time to maturity, the duration of a zero-coupon bond is higher when the discount rate is

• A)higher.
• B)lower.
• C)equal to the risk-free rate.
• D)the bond's duration is independent of the discount rate.
• E)None of the options

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Definitions:

REM Sleep

A unique phase of sleep in mammals and birds, characterized by random movement of the eyes, low muscle tone throughout the body, and the propensity of the sleeper to dream vividly.

Narcolepsy

A chronic sleep disorder characterized by overwhelming daytime drowsiness and sudden attacks of sleep.

Insomnia

A common sleep disorder characterized by trouble falling asleep, staying asleep, or getting restorative sleep.

Sleepwalking

A disorder that involves walking or performing other complex behaviors while in a state of partial arousal from deep sleep.