What would you equal monthly payments be

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Reference no: EM13302025

Selling a bicycle shop for $250,000 with a 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, then make an additional final (balloon) payment of $50,000 at eh end of the last month. What would you equal monthly payments be?

Reference no: EM13302025

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