The duration of a bond that makes an equal payment each year in perpetuity is (1 +

Question:

The duration of a bond that makes an equal payment each year in perpetuity is (1 + yield)/ yield. Prove it.

Perpetuity
Perpetuity refers to payments that are made without an end or maturity date. A perpetuity is classified as an annuity, which is something that earns a dividend or receives a payment at a regularly scheduled interval, generally yearly. So, how...