$20,000 Commercial Loan With Balloon Payment at 5 Years

Monthly payment and balloon payment for a 20k commercial loan after 5 years
Determine the monthly payment and balloon payment for a $20,000 loan where the loan balance is paid off after 5 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 5 years.
Payment and balloon payment chart for a 20k commercial loan with a 5 year loan term.
20k at 4% Monthly Payment Balloon Payment
5 Year Amortization3680
10 Year Amortization20210,995
15 Year Amortization14814,612
20 Year Amortization12116,385
25 Year Amortization10617,421
30 Year Amortization9518,090
35 Year Amortization8918,549
40 Year Amortization8418,878
20k at 5% Monthly Payment Balloon Payment
5 Year Amortization3770
10 Year Amortization21211,241
15 Year Amortization15814,911
20 Year Amortization13216,691
25 Year Amortization11717,716
30 Year Amortization10718,366
35 Year Amortization10118,803
40 Year Amortization9619,109
20k at 6% Monthly Payment Balloon Payment
5 Year Amortization3870
10 Year Amortization22211,485
15 Year Amortization16915,202
20 Year Amortization14316,980
25 Year Amortization12917,986
30 Year Amortization12018,611
35 Year Amortization11419,021
40 Year Amortization11019,299
20k at 7% Monthly Payment Balloon Payment
5 Year Amortization3960
10 Year Amortization23211,727
15 Year Amortization18015,483
20 Year Amortization15517,251
25 Year Amortization14118,232
30 Year Amortization13318,826
35 Year Amortization12819,205
40 Year Amortization12419,454
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