Your Uncle Will Sell You His Bicycle Shop for $280,000,with

Your uncle will sell you his bicycle shop for $280,000,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) $4,747.31
B) $5,651.56
C) $5,425.49
D) $5,934.13
E) $4,408.21