How are the credits applied out with the yearly upgrade perk (Go 5G Next)?

When you trade in your old device for a new one with a promo T-Mobile likes to apply your “instant trade in credit” directly to the bill and the remainder will be given to you over the 24 month period. I hated this method.

If I do the yearly upgrade (T-Mobile pays off the remainder of my loan) and trade in the phone how would the credits for the new phone get applied? Will I get the full $1100 (trade in promo) in monthly credits over 24 months??