单选题 Which of the following statements about duration of a bond is least accurate? A. The duration of a zero coupon bond is approximately equal to its maturity. B. The duration of a floater is equal to the time to the next reset date. C. If a bond has an effective duration of 7.5 , it means that a 1% change in rates will result in a 7.5% change in price.

【正确答案】 C

【答案解析】Because of convexity, it will be approximately a 7.5 percent change in price, not an actual 7.5 percent change in price. The readings are very explicit about this distinction.