is it possible to pay no interest with APR annual percentage rate?

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dudnaito

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i'm still a newb to the adult world so forgive this obviously novice question, but considering that the APR is annual, is it possible to just not pay the interest rate by paying them back before the year is over?

Or is each year divided by certain periods where you pay the interest?
 
Please click details and specify what type of loan it is. A revolving credit card loan is very different from a bank loan. My answer assumes that you are asking about a mortgage loan.
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You pay a loan monthly. Each payment consists of interest and principle. If it is a 20 year loan, for example, then each payment during the first 10 years will be mostly interest.

Unless you pay off the loan the same day you get it, you will be paying interest each month. I suggest you google "loan calculator with amortization schedule". It will show you the amount of principle you will be paying off each month and the amount of interest you will be paying each month.

By this way, you question is a very reasonable one.
 
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