$20,000 Commercial Loan With Balloon Payment at 15 Years

Monthly payment and balloon payment for a 20k commercial loan after 15 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 15 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 15 years.
Payment and balloon payment chart for a 20k commercial loan with a 15 year loan term.
20k at 4% Monthly Payment Balloon Payment
15 Year Amortization1480
20 Year Amortization1216,581
25 Year Amortization10610,427
30 Year Amortization9512,909
35 Year Amortization8914,614
40 Year Amortization8415,836
20k at 5% Monthly Payment Balloon Payment
15 Year Amortization1580
20 Year Amortization1326,994
25 Year Amortization11711,023
30 Year Amortization10713,577
35 Year Amortization10115,295
40 Year Amortization9616,497
20k at 6% Monthly Payment Balloon Payment
15 Year Amortization1690
20 Year Amortization1437,412
25 Year Amortization12911,607
30 Year Amortization12014,210
35 Year Amortization11415,918
40 Year Amortization11017,079
20k at 7% Monthly Payment Balloon Payment
15 Year Amortization1800
20 Year Amortization1557,831
25 Year Amortization14112,174
30 Year Amortization13314,804
35 Year Amortization12816,480
40 Year Amortization12417,585
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