Your uncle will sell you his bicycle shop for $250,000,with "seller financing," at a 6.0% nominal annual rate.The terms of the loan would require you to make 12 equal end-of-month payments per year for 4 years,and then make an additional final (balloon)payment of $50,000 at the end of the last month.What would your equal monthly payments be?
A)$4,029.37
B)$4,241.44
C)$4,464.67
D)$4,699.66
E)$4,947.01

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The Answer of Your uncle will sell you his bicycle shop for $250,000,with "seller financing," at a 6.0% nominal annual rate.The terms of the loan would require you to make 12 equal end-of-month payments per year for 4 years,and then make an additional final (balloon)payment of $50,000 at the end of the last month.What would your equal monthly payments be?
A)$4,029.37
B)$4,241.44
C)$4,464.67
D)$4,699.66
E)$4,947.01

Your Uncle Will Sell You His Bicycle Shop for $250,000,with