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.
Definition of time for English Language Learners. : 1  the thing that is measured as seconds, minutes, hours, days, years, etc. : 2  a particular minute or hour shown by a clock. : 3  the time in a particular area or part of the world.