QUESTION $14$

You want to buy a shop for $$200,000.$ Seller financing at a $6\mathrm{.}0\%$ annual rate for the four year loan but the loan requires $12$ equal monthly payment each year for $4$ years. And also, you need to make an additional balloon $($final$)$ payment of $$50,000$ which will be paid at the end of the last month. The equal monthly payments $=?($hint: FV$=50000)$

$$6,221\mathrm{.}72$

$$5,887\mathrm{.}90$

$$6,105\mathrm{.}14$

$$5,621\mathrm{.}26$