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 ...

Let's talk about the Rule of 78s. The rule is named for a formula by which lenders calculate how much of the interest owed them on the unpaid portion of a loan they will refund if it is paid off early ...

PETALING JAYA: The move to abolish the Rule of 78 method that calculates interest on personal financing is seen as a positive one as it aims to promote a healthier financial environment for borrowers.

There’s a surcharge hidden away in some consumer loans for those thrifty folks who decide to pay their borrowings off early. Consumer advocates and some bankers say that an old-fashioned mathematical ...