The Rule of 78 can be used by lenders to calculate interest that could significantly impact how much you end up paying over the life of a loan. Unlike the standard amortization method, the Rule of 78 ...
Caroline Banton has 6+ years of experience as a writer of business and finance articles. She also writes biographies for Story Terrace. Thomas J Catalano is a CFP and Registered Investment Adviser ...
Rule of 78 can only be used on loans lasting less than 61 months. If a lender uses this rule, you'll pay more toward interest in the first months of repayment. Not many lenders use the Rule of 78, as ...
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