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 ...

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 ...

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 ...