See more synonyms on Thesaurus.com. noun. 1. a written promise to pay a specified sum of money to a designated person or to his or her order, or to the bearer of the note, at a fixed time or on demand. 2. a written promise to do or provide something, usually presented as a gift and claimable when or however the recipient chooses.
DEFINITION of 'Duration'. A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. Duration is expressed as a number of years. Rising interest rates mean falling bond prices, while declining interest rates mean rising bond prices.
term. n. 1. A limited or established period of time that something is supposed to last, as a school or court session, tenure in public office, or a prison sentence. 2.. a. A word or group of words having a particular meaning, especially in a specific field: I was baffled by the technical terms that the programmers were using. b. terms Language of a certain kind; chosen words: spoke in rather vague terms; praised him in glowing terms.