PPT Slide
1. Duration of a coupon paying bond is always less than its maturity. Duration decreases with the increase of coupon rate. Duration equals bond maturity for non-coupon paying bond.
2. As the time to maturity increases to infinity, the duration do not increase to infinity but tend to a finite limit independent of the coupon rate.
Actually, where l is the yield per annum, and m is the number of coupon payments per year.