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Question
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
Answer
This answer is hidden. It contains 1 characters.
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