Which of the following terms refers to the overall financial impact of a bond?

The term referring to the overall financial impact of a bond is yield. Yield encompasses the income generated from the bond as a return on investment, which can include interest payments as well as any capital gains or losses realized if the bond is sold before maturity. It effectively reflects the income an investor can expect to earn, expressed as a percentage of the bond's price.

While market price refers to the current trading price of the bond in the market, it does not take into account the income generated over time. Premium indicates the amount by which a bond's market price exceeds its face value, but it also does not encapsulate the overall financial impact. Net gain reflects the difference between investment returns and initial costs but is not specific to bonds or the financial effects of holding them over time. Hence, yield is the most comprehensive term to describe the financial implications of owning a bond.