Question: John Cena borrows 5 0 0 , 0 0 0 from Ashley Tisdale. Cena will repay Tisdale with 7 2 end of month payments. The
John Cena borrows from Ashley Tisdale. Cena will repay Tisdale with end of month payments. The nominal interest rate is convertible monthly. Cena's first payments are the second payments are and the third payments are Just after the th payment has been made, Tisdale sells the remaining payments to Miley Cyrus. The price Cyrus pays is based on a nominal interest rate of convertible monthly. Calculate the nominal yield rate for Tisdale convertible monthly.
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