Macaulay duration is weighted average term to maturity of bond cash flows. Calculated by dividing present value of cash flows by bond price. Named after Frederick Macaulay
Distance between Ayvalık and Küçükkuyu is 87.1 km. Journey takes 1 hour 30 minutes by bus. Distance by taxi is 76 km. Journey by car takes 1 hour 2 minutes
Duration measures bond's sensitivity to interest rate changes. Macaulay introduced duration as weighted average of coupon payment maturities. Duration increases with maturity and decreases with higher coupon rates. Zero-coupon bonds have duration equal to time to maturity
Long means extending or traveling a relatively great distance. Can refer to height, duration, or linear extent. Describes items made up of many members or items. Expresses something beyond an average or standard
The Persistence of Memory (1931) depicts a mysterious white figure sleeping in a desert landscape. The painting features melting clocks that are soft and malleable. Dali referred to his surrealist art as "hand-painted dream photographs"
Born in 1948 in Japan, divides time between Tokyo and New York. Works in photography since 1970s, combining sculpture, performing arts, and architecture. Explores themes of time, empiricism, and metaphysics through photography