Refer to the Treasury-note and Treasury-bond quotes in Table 6–1.
a. What is the asking price on the 1.375 percent May 2020 Treasury-bond if the face value of the bond is $10,000?
b. What is the bid price on the 0.875 percent June 2017 Treasury-note if the face value of the bond is $10,000?
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The Ask price is $10,000 × 100.4922% = $10,049.22.
The Bid price is $10,000 × 100.1250% = $10,012.50.