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Say if you took out a $5-10,000 loan from the bank. If you paid that off over like, 2 months, would you still have to pay interest on it? Or does APR only apply per year?

Say if you took out a $5-10,000 loan from the bank. If you paid that off over like, 2 months, would you still have to pay interest on it? Or does APR only apply per year?

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[–] • 0 pt

10k was just an example and I get that they want what they were expecting.

Guess the punihsment way to go is the best explenation.