Your uncle will sell you his bicycle shop for $$250,000,$ with $$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.

a$.$ What would your equal monthly payments be$?$

b$.$ What is a loan amortization schedule, and what are some ways these schedules are used?