1久期(Duration)•久期(Duration)是对债券的每次息票利息或本金支付时间的加权平均,每次支付时间的权重是该支付现值在债券总价值(债券价格)中所占的比例。TtttTtttCFCFP11)y1()y1(tCFCFtPTtttTttt111)y1(y11)y1()(y112T()PV(C)PV(C)PV(C)(1)D12TPPP1TttttCFPyPDyPy即久期23久期的计算名称(1)至支付的时间(2)支付/元(3)半年5%折现支付/元(4)权重(5)=(1)×(4)债券A8%债券0.54038.0950.03950.019814036.2810.03760.03761.54034.5530.03580.053721,040855.6110.88711.7742总计964.5411.8853债券B零息票债券0.5~1.5000021,000822.712总计822.712