Question: What is a consol bond? What is the duration of a consol bond that sells at a yield to maturity of 8 percent? 10 percent?

What is a consol bond? What is the duration of a consol bond that sells at a yield to maturity of 8 percent? 10 percent? 12 percent? Would a consol trading at a yield to maturity of 10 percent have a greater duration than a 20-year zero-coupon bond trading at the same yield to maturity? Why?

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