what is the difference between dollar price and bond ask/bid pricehow to convert the two

To calculate the number of years until maturity, assume that it is currently May 2019. All of the bonds have a $1,000 par value and pay semiannual coupons. Maturity Mo/Yr rded Rate Bid Asked 103.5362 103.8235 Ask Yld Chg +.3204 ?? May 25 2.18 5.850 103.1840 103.3215 +.4513 ?? May 27 May 36 6.125 ?? ?? +.6821 3.87 In the above table, find the Treasury bond that matures in May 2027. What is your yield to maturity if you buy this bond? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) ces Yield to maturity 5.33 % 10/10 points awarded Explanation Scored Note: Intermediate answers are shown below as rounded, but the full answer was used to complete the calculation. The bond asked price is 103.3215, so the dollar price is: eBook Dollar price = 103.3215/100 $1,000 Dollar price = $1,033.215 So the bond price equation is: Print P= $1,033.215 = $29.25(PVIFAR%,16) + $1,000(PVIFR%,16) References Using a spreadsheet, financial calculator, or trial and error, we find: R = 2.667% This is the semiannual interest rate, so the YTM is: YTM = 2 x 2.667% YTM = 5.33% Calculator Solution: Enter 8 x 2 $58.50/2 $1,000 +$1,033.215 PV N I/Y PMT FV Solve for 2.667% YTM = 2 x 2.667% YTM = 5.33%