I am looking at effective duration for a zero coupon bond.
I thought it would be equal to its maturity.
When calculating the effective duration of my 0 coupon bond on excel I don’t exactly get the maturity meaning there is some noise. (e.g. maturity is 15 whereas effective duration is 14.2). I suspect this is due to annual compounding instead of continuous compounding but I’d be curious to have your view on it .