<prompt> Human: So yeah, click-baity title, but it is an honest question.After perfecting my budget, I have a spare 365 per year, to pay towards a debt closer to 400, but for this question lets say 365The debt is a personal loan 4.5 bill consolidationMy bank will mail a check any day of the week, M-Sat, at no cost to me, other than the time to set up on my phone or online.Should I EDIT in addition to minimum monthly payments1. pay 365 once a year. 2. pay 30 monthly3. pay 7 weekly4. pay 1 day 2 on saturdaysomehow I have the notion than an APR is for the priviledge of paying a debt in payments, and that the Percentage Rate is tied to not having made a payment in the previous 30 days. Even though the schedule is setup to be paid monthly, because I havent paid within those 30 days, interest is acruing. something akin to a vig but more legal and not as exorbant rate. I forget how or where I got this notion, but I am pretty sure I am wrong, yet I cannot find anyone to prove me wrong or right. TL;DR what is the most effective way to pay off a loan with a spare 365?  <response>: You accrue interest on the unpaid balance. The APR is for the privilege of borrowing the money and keeping some of the balance unpaid.You minimize interest by paying sooner. So, pay 365 January 1, all other things being equal. 