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?
$4,029.37
$4,241.44
$4,464.67
$4,699.66
$4,947.01
Answers: 1
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