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Suppose you pay only the interest on a loan. Will the loan ever be paid off? Why or why not? I have no idea if this is correct

Suppose you pay only the interest on a loan. Will the loan ever be paid off? Why or why not? I have no idea if this is correct
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Suppose you pay only the interest on a loan. Will the loan ever be paid off? Why or why not? I have no idea if this is correct

Suppose you pay only the interest on a loan. Will the loan ever be paid off? Why or-example-1
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User Abdolence
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7.3k points

1 Answer

4 votes

No. if only the interest is paid, the principal never decreases

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User Escaped
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