What is rule of 78 loan - Definition and Meaning

Rule Of 78 Loan :

Rule of 78 is a method of computing yearly interest-refund on a permanent loan installment basis, where the amount should be paid off before the duration date. This method assures that if the borrower repays the loan amount earlier, then the lender can make a guaranteed profit.

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Learn what is rule of 78 loan. Also find the definition and meaning for various math words from this math dictionary.

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