You are financing the acquisition of a small office building with a 5-year commercial loan with 6% annual interest rate and a 25-year amortization period. If the amount borrowed is $1,380,000 and payments are made on a monthly basis, what is the monthly payment?

What is the balloon payment that is due when the loan matures?

If you must pay an origination fee of $60,000 to the lender at the time you receive the loan, what is your effective cost of borrowing?