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Your uncle will sell you his bicycle shop for $$280,000,$ with "seller financing," at a $6\mathrm{.}0\%$ nominal annual rate. The terms of the loan would require you to make $12$ equal end$-$of$-$month payments per year for $4$ years, and then make an additional final $($balloon$)$ payment of $$50,000$ at the end of the last month. What would your equal monthly payments be$?$Check My Work

Your uncle will sell you his bicycle shop for $$280,000,$ with "seller financing," at a $6\mathrm{.}0\%$ nominal annual rate. The terms of the loan would require you to make $12$ equal end$-$of$-$month payments per year for $4$ years, and then make an additional final $($balloon$)$ payment of $$50,000$ at the end of the last month. What would your equal monthly payments be$?$