I understand how to calculate duration but I'm a bit confused about what it actually tells me and how it is useful and I can't seem to find anything that tells me.

If a bond has a maturity of 5 years but a duration of 4.8 years, does this mean it would take 4.8 years to earn the money back?

I'm a bit unsure of how this works as surely I only receive all the money at maturity.

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