Problem regarding the macauley duration

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What is meant by the "Macauley duration" of a financial investment? The "modified duration?"

The Macauley duration of a fixed rate bond with coupon payments must be more or less than its term to maturity? Explain.

If a fixed rate bond has a shorter term to maturity (all else the same), its Macauley duration is higher or lower? Explain.

If a fixed rate bond has higher coupon payments (all else the same), its Macauley duration is higher or lower? Explain.

If a bond has no coupon payments and only returns the face value at maturity, its Macauley duration is greater than, equal to, or less than the term to maturity? Explain.

Reference no: EM131082688

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