1. Refer to the T-note and T-bond quotes in Table 6-1 Q. (LG 6-2 ) a. What is the asking price on the 2.750 percent November 2023 T-bond if the face value of the bond is $10,000? b. What is the bid price on the 0.500 percent August 2016 T-note if the face value of the bond is $10,000? TABLE 6-1 Treasury Note and Bond Quote Treasury Notes and Bonds Monday, May 23, 2016 Treasury note and bond data are representative over-the-counter quotations as of 3 p.m. Eastern time. For notes and bonds callable prior to maturity, yields are computed to the earliest call date for issues quoted above par and to the maturity date for issues below par. Maturity Coupon Bid Asked Chg Asked Yield 5/31/2016 0.375 100.0000 100.0156 0.0078 -0.441 6/15/2016 0.500 100.0078 100.0234 0.0078 0.110 6/30/2016 0.500 100.0078 100.0234 unch. 0.269 7/15/2016 0.625 100.0391 100.0547 0.0156 0.242 7/31/2016 0.500 100.0234 100.0391 unch. 0.291 8/15/2016 0.625 100.0547 100.0703 0.0078 0.316 8/31/2016 0.500 100.0391 100.0547 0.0234 0.296 9/15/2016 0.875 100.1250 100.1406 -0.0156 0.420 9/30/2016 0.500 100.0469 100.0625 0.0234 0.322 10/15/2016 1.000 100.0547 100.0703 -0.0234 0.446 11/15/2016 0.625 100.0547 100.0703 0.0078 0.477 2/15/2017 0.625 100.0156 100.0313 unch. 0.582 2/28/2017 0.875 100.1641 100.1797 -0.0313 0.640 3/15/2017 0.750 100.0859 100.1016 -0.0078 0.624 3/31/2017 1.000 100.2813 100.2969 -0.0078 0.650 4/30/2017 0.500 99.8203 99.8359 0.0156 0.676 4/30/2017 0.875 100.1641 100.1797 -0.0078 0.682 5/15/2017 0.875 100.1563 100.1719 -0.0078 0.698 5/31/2017 0.625 99.8828 99.8984 0.0078 0.725 6/15/2017 0.875 100.1250 100.1406 -0.0234 0.742 6/30/2017 0.750 99.9844 100.0000 -0.0078 0.750 7/31/2017 0.625 99.7891 99.8047 -0.0391 0.790 9/30/2017 1.875 101.3906 101.4063 -0.0156 0.827 10/15/2017 0.875 100.0469 100.0625 -0.0156 0.830 10/31/2017 1.875 101.4609 101.4766 unch. 0.837 11/15/2017 0.875 100.0234 100.0391 -0.0078 0.848 11/15/2017 4.250 104.9766 104.9922 -0.0234 0.839 11/30/2017 0.625 99.6406 99.6828 -0.0156 0.853 11/30/2017 0.875 100.0234 100.0318 -0.0156 0.849 12/31/2017 1.000 100.2109 100.2266 -0.0078 0.857 2/15/2019 2.750 104.7109 104.7266 -0.0234 0.989 2/28/2019 1.375 100.9297 100.9453 -0.0156 1.028 2/28/2019 1.500 101.2813 101.2969 -0.0313 1.024 3/15/2019 1.000 99.8984 99.9141 -0.0078 1.031 3/31/2019 1.500 101.3281 101.3438 -0.0156 1.021 3/31/2019 1.625 101.6250 101.6406 -0.0234 1.040 5/15/2020 3.500 108.6953 108.7109 -0.0234 1247 5/31/2020 1.375 100.4766 100.4922 -0.0234 1.249 5/31/2020 1500 100.9141 100.9297 -0.0313 1262 6/30/2020 1.625 101.3594 101.3750 -0.0078 1.280 6/30/2020 1.875 102.4141 102.4297 -0.0078 1.265 7/31/2020 2.000 102.8750 102.8906 -0.0234 1.288 8/15/2020 2.625 105.4375 105.4531 -0.0156 1.295 5/15/2023 1.750 100.6875 100.7031 0.0703 1.643 8/15/2023 2.500 105.7500 105.7656 0.0547 1.650 11/15/2023 2.750 107.5234 107.5391 0.0703 1.673 2/15/2024 2.750 107.5781 107.5938 0.0703 1.697 5/15/2024 2.500 105.7656 105.7813 0.1094 1.721 8/15/2024 2.375 104.7656 104.7813 0.1016 1.748 11/15/2024 2.250 103.7422 103.7578 0.1172 1.771 5/15/2045 3.000 107.6875 107.7188 0.1094 2.618 11/15/2045 3.000 107.6563 107,6875 0.0938 2.624 2/15/2046 2.500 97.2109 97.2422 0.0938 2.634 5/15/2046 2.500 97.2656 97.2969 0.1250 2.631 U.S. Treasury STRIPS Monday, May 23, 2016 U.S. zero-coupon STRIPS allow investors to hold the interest and principal components of eligible Treasury notes and bonds as separate securities. STRIPS offer no interest payment; investors receive payment only at maturity. Quotes are as of 3 p.m. Eastern time based on transactions of $1 million or more. Yields calculated on the ask quote. Maturity Bid Asked Chg Asked Yield Treasury Bond, Stripped Principal 2016 Aug 15 99.896 99.899 -0.002 0.44 2016 Nov 15 99.748 99.752 -0.004 0.52 2017 May 15 99.234 99.2244 -0.010 0.78 2018 Nov 15 97.764 97.788 -0.018 0.90 2019 Feb 15 97.420 97.447 -0.019 0.95 2019 Aug 15 96.522 96.553 -0.023 1.09 2022 Nov 15 90.261 90.319 0.021 1.58 2023 Feb 15 89.752 89.812 0.052 1.60 2023 Aug 15 88.683 88.746 0.039 1.66 2024 Nov 15 86.080 86.153 0.066 1.77 2029 Aug 15 75.932 76.031 0.125 2.08 2030 May 15 74.786 74.889 0.130 2.08 2031 Feb 15 73.491 73.598 0.134 2.09 2044 Feb 15 47.378 47.508 0.063 2.70 2044 May 46.675 46.804 0.063 2.73 2044 Nov 15 45.689 45.818 0.030 2.76 2045 Feb 15 45.309 45.437 0.063 2.77 2045 May 15 44.969 45.097 0.063 2.77 2045 Nov 15 44.256 44.385 0.063 2.78 2046 Feb 15 44.077 44.207 0.063 2.77 2046 May 15 43.907 44.037 0.063 2.76 Treasury Note, Stripped Principal 2016 Aug 31 99.874 99.876 -0.002 0.46 2016 Nov 30 99.704 99.708 -0.005 0.56 2017 Aug 98.980 98.992 -0. 0.83 2017 Nov 30 98.779 98.794 -0.017 0.80 2018 Aug 31 97.918 97.940 -0.019 0.92 2018 Nov 30 97.769 97.794 -0.025 0.89 2022 May 15 91.080 91.134 0.020 1.56 2025 Nov 15 83.742 83.820 0.072 1.87 2026 May 15 82.949 83.289 0.069 1.84 Stripped Coupon Interest 2016 Jun 15 99.980 99.981 unch. 0.32 2016 Nov 15 99.730 99.735 -0.004 0.56 2019 May 31 96.611 96.640 -0.020 1.13 2019 Nov 30 95.893 95.927 -0.005 1.18 2024 May 15 86.487 86.556 0.042 1.82 2024 Nov 15 85.307 85.378 0.067 1.87 2025 Feb 15 84.72 84.794 0.087 2025 May 15 84.080 84.155 0.088 1.93 2025 Aug 15 83.575 83.651 0.089 1.94 2035 May 15 62.664 62.782 0.146 2.47 2035 Nov 15 61.612 61.731 0.118 2.49 2036 Feb 15 61.316 61.435 0.119 2.48 2036 May 15 60.737 60.857 0.120 2.50 2036 Aug 15 60.181 60.301 0.120 2.52 2036 Nov 15 59.633 59.753 0.120 2.53 2044 Nov 15 45.338 45.465 0.031 2.79 2045 May 15 44.808 44.937 0.062 2.78 2045 Aug 15 44.528 44.657 0.063 2.78 2045 Nov 15 44.128 44.256 0.063 2.79 2046 May 15 43.907 44.037 0.063 2.76