$20,000 Commercial Loan With Balloon Payment at 1 Years

Monthly payment and balloon payment for a 20k commercial loan after 1 years
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Determine the monthly payment and balloon payment for a $20,000 loan where the loan balance is paid off after 1 years.
The amortization length is the amount of time that the payment is set to and the loan length is for the amount of time until the balloon payment is due. This is a common way that commercial and business loans are structured. Usually, the loan is refinanced when the balloon payment comes due.

For example, a 20k loan with 5% interest and amortization set to interest only would have a payment of 83/month. However, the loan the remaining balance of 20,000 would need to be paid off or refinanced after 1 years.
Payment and balloon payment chart for a 20k commercial loan with a 1 year loan term.
20k at 4% Monthly Payment Balloon Payment
5 Year Amortization36816,313
10 Year Amortization20218,340
15 Year Amortization14819,007
20 Year Amortization12119,334
25 Year Amortization10619,525
30 Year Amortization9519,648
35 Year Amortization8919,732
40 Year Amortization8419,793
20k at 5% Monthly Payment Balloon Payment
5 Year Amortization37716,389
10 Year Amortization21218,419
15 Year Amortization15819,081
20 Year Amortization13219,403
25 Year Amortization11719,588
30 Year Amortization10719,705
35 Year Amortization10119,784
40 Year Amortization9619,839
20k at 6% Monthly Payment Balloon Payment
5 Year Amortization38716,464
10 Year Amortization22218,495
15 Year Amortization16919,152
20 Year Amortization14319,466
25 Year Amortization12919,644
30 Year Amortization12019,754
35 Year Amortization11419,827
40 Year Amortization11019,876
20k at 7% Monthly Payment Balloon Payment
5 Year Amortization39616,538
10 Year Amortization23218,568
15 Year Amortization18019,218
20 Year Amortization15519,524
25 Year Amortization14119,694
30 Year Amortization13319,797
35 Year Amortization12819,862
40 Year Amortization12419,906
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