The Rule of 78 can be used by lenders to calculate interest that could significantly impact how much you end up paying over ...

The Rule of 78 weights the earlier payments with more interest than the later payments. If the loan is not terminated or prepaid early, the total interest paid between simple interest and the Rule ...

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 ...