Your Cousin Will Sell You His Coffee Shop for $250

Your cousin will sell you his coffee 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