Determine the monthly payment and balloon payment for a $50,000 commercial loan.
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.
For example, a 50k loan with an amortization length of 25 years at 5%
interest would have a payment of 292.30/month. However, if the loan
length is less than 25 years, a balloon payment would need to be made for the remaining balance.