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Comprehending the Rule of 78 The Rule of 78 offers bigger body weight to months in the sooner Element of a borrower’s loan cycle when calculating desire, which boosts the gain for the lender.
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Repayment phrase: The repayment time period of a loan is the volume of months or years it can choose for you to repay your loan. Your loan’s principal, fees, and any fascination will probably be break up into payments around the program in the loan’s repayment time period.
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