$490,000 Commercial Loan With Balloon Payment at 3 Years

Monthly payment and balloon payment for a 490k commercial loan after 3 years
Determine the monthly payment and balloon payment for a $490,000 loan where the loan balance is paid off after 3 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 490k loan with 5% interest and amortization set to interest only would have a payment of 2,042/month. However, the loan the remaining balance of 490,000 would need to be paid off or refinanced after 3 years.
Payment and balloon payment chart for a 490k commercial loan with a 3 year loan term.
490k at 4% Monthly Payment Balloon Payment
5 Year Amortization9,024207,809
10 Year Amortization4,961362,944
15 Year Amortization3,624413,975
20 Year Amortization2,969438,991
25 Year Amortization2,586453,610
30 Year Amortization2,339463,044
35 Year Amortization2,170469,525
40 Year Amortization2,048474,171
490k at 5% Monthly Payment Balloon Payment
5 Year Amortization9,247210,773
10 Year Amortization5,197367,712
15 Year Amortization3,875418,957
20 Year Amortization3,234443,802
25 Year Amortization2,864458,113
30 Year Amortization2,630467,184
35 Year Amortization2,473473,286
40 Year Amortization2,363477,556
490k at 6% Monthly Payment Balloon Payment
5 Year Amortization9,473213,740
10 Year Amortization5,440372,385
15 Year Amortization4,135423,723
20 Year Amortization3,511448,284
25 Year Amortization3,157462,186
30 Year Amortization2,938470,812
35 Year Amortization2,794476,471
40 Year Amortization2,696480,321
490k at 7% Monthly Payment Balloon Payment
5 Year Amortization9,703216,708
10 Year Amortization5,689376,959
15 Year Amortization4,404428,271
20 Year Amortization3,799452,440
25 Year Amortization3,463465,847
30 Year Amortization3,260473,962
35 Year Amortization3,130479,137
40 Year Amortization3,045482,546
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