The "Rule of 78" allows lender to earn interest at a quicker pace than that determined by the simple interest method.

Name: The "Rule of 78" allows lender to earn interest at a quicker pace than that determined by the simple interest method.
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The Rule of 78 allows lenders to allocate a higher amount of interest in the early months of the loan repayment, making them earn interest at a faster pace than the simple interest method.

The "Rule of 78" Allows Lender to Earn Interest at a Quicker