Chandler and Joey ditched the virtual cafe idea as too cerebral and decide to buy Joeys uncles Bike shop instead, for $150,000. How uncle is willing to extend the pair, seller financing, at a 6% nominal rate. The terms of the loan would require them 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 will be their monthly payment?

A). $2,468.58

B). $2,598.50

C). $2,988.28

D). $2,338.65

E). $2,208.73