$20,000 Commercial Loan With Balloon Payment at 10 Years

Monthly payment and balloon payment for a 20k commercial loan after 10 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 10 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 10 years.
Payment and balloon payment chart for a 20k commercial loan with a 10 year loan term.
20k at 4% Monthly Payment Balloon Payment
10 Year Amortization2020
15 Year Amortization1488,033
20 Year Amortization12111,971
25 Year Amortization10614,272
30 Year Amortization9515,757
35 Year Amortization8916,777
40 Year Amortization8417,508
20k at 5% Monthly Payment Balloon Payment
10 Year Amortization2120
15 Year Amortization1588,381
20 Year Amortization13212,444
25 Year Amortization11714,785
30 Year Amortization10716,268
35 Year Amortization10117,266
40 Year Amortization9617,965
20k at 6% Monthly Payment Balloon Payment
10 Year Amortization2220
15 Year Amortization1698,730
20 Year Amortization14312,906
25 Year Amortization12915,270
30 Year Amortization12016,737
35 Year Amortization11417,699
40 Year Amortization11018,354
20k at 7% Monthly Payment Balloon Payment
10 Year Amortization2320
15 Year Amortization1809,079
20 Year Amortization15513,355
25 Year Amortization14115,727
30 Year Amortization13317,162
35 Year Amortization12818,078
40 Year Amortization12418,681
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