im pretty sure the interest is based on the balance. as teh balance goes down the interest should to. til its zero. someone mentioned a fixed rate loan. not sure with that but i think whati said is generally true with credit or loans. if you notice its not id call the place and ask them.

That depends on how the loan is written. And without reading the agreement I dont know. But either is possible. It seems likely that when the principle reaches zero, the loan is discharged. However, some loans are considered fixed term, even if you pay them out early, the loan technically exists for the full term. Even if you have paid out the balance, there may be account keeping and credit charges applied monthly..😷

I think that if it’s an open loan, once you pay it off, you don’t continue to pay interest. You only pay the interest up to the date that you pay it off entirely.

It depends on the type of loan it is, but in most cases the answer is no. Congratulations on paying your loan down faster. 🙂