Rule 78 Loan Calculator

Rule 78 Loan Calculator

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You think normal amortized loans are complicated? How about these bizarre Rule of 78 loans?. Here the amount of your interest paid each month is determined using a fixed linear scale. I could explain it all out, but I don't want anyone to fall asleep and drop their mouse on the floor! Just put in some numbers and find out for yourself.

Loan Amount :

Number of Months :

Monthly Payment :	100
Total Finance Charge :	200.00
Annual Interest Rate :	20.0000

For 12 months, the magic rule number is 78

Payment Schedule

Month	Start Balance	Interest	Principal	End Balance	Cum. Int. Paid	Interest left to Pay
1	1000	30.77	69.23	930.77	30.77	169.23
2	930.77	28.21	71.79	858.98	58.98	141.02
3	858.98	25.64	74.36	784.62	84.62	115.38
4	784.62	23.08	76.92	707.70	107.70	92.30
5	707.70	20.51	79.49	628.21	128.21	71.79
6	628.21	17.95	82.05	546.16	146.16	53.84
7	546.16	15.38	84.62	461.54	161.54	38.46
8	461.54	12.82	87.18	374.36	174.36	25.64
9	374.36	10.26	89.74	284.62	184.62	15.38
10	284.62	7.69	92.31	192.31	192.31	7.69
11	192.31	5.13	94.87	97.44	197.44	2.56
12	97.44	2.56	97.44	0.00	200.00	0

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