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Use the rule of 78s to find the amount of interest saved.

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A $400 loan is to be paid off in 66 monthly payments of $11.62. The borrower decides to pay off the loan after 18 payments. Use the rule of 78s to find the amount of interest saved.

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To calculate the amount of interest attributable to each payment under the Rule of 78's, first, add up all the digits for the ...

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