The curiosity construction from the Rule of 78 is created to favor the lender over the borrower. “If a borrower pays the exact quantity due on a monthly basis for the lifetime of the loan, the Rule of seventy eight may have no impact on the overall desire paid,” suggests Andy Dull, vice

On the flip side, lenders experience loan defaults at the same time. They confront financial losses mainly because of the unpaid principal total as well as the interest fees that will have been gathered more than the loan expression. Forbes Advisor adheres to rigorous editorial integrity benchmar

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