Your uncle will sell you his bicycle shop for $250,000, with seller financing, at a 8.0% nominal
Fantastic news! We've Found the answer you've been seeking!
Question:
Your uncle will sell you his bicycle shop for $250,000, with seller financing, at a 8.0% 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 payment of $50,000 at the end of the last month. What would your equal monthly payments be?
Posted Date: