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.
1. the interval, space, or distance between two points, such as the ends of a bridge or arch. 2. the complete duration or extent: the span of his life. 3. (Psychology) psychol the amount of material that can be processed in a single mental act: apprehension span; span of attention.