You just purchased some Treasury bonds that were quoted at 101:12. What is the market price of your bonds if you purchased $900 in terms of face value?

Market price = $


$220,000 worth of Treasury bonds has a bid price quote of 109:17 and an asked quote of 109:18. In dollars, what is the value of the bid-ask spread on this bond?

Responses
$687.50
$22.00
$68.75
$220.00