Sorry if this is too simple of a question. For a family loan, how is the interest calculated. The AFR is currently 1.92% for a loan over 9 years. Is that 1.92% per year or is it for the amount of the loan paid when the loan is due. For example, is a 10 year $100,000 loan $1,920 a year for 10 years or $1,920 paid after 10 years. And can all the interest be paid back in a lump payment at the end of the loans term?