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From: jdb@qubix.UUCP (Jeff Bulf)
Newsgroups: net.consumers,net.misc
Subject: Re: What is "rule of 78's"?
Message-ID: <948@qubix.UUCP>
Date: Tue, 20-Mar-84 16:36:04 EST
Article-I.D.: qubix.948
Posted: Tue Mar 20 16:36:04 1984
Date-Received: Thu, 22-Mar-84 01:27:00 EST
References: <1070@proper.UUCP>
Organization: Qubix Graphic Systems, Saratoga, CA
Lines: 15
Keywords: rule of 78's,loans,accounting

Im sure others will post technical descriptions. You will be amazed at the
brazenness of the scam.

It means roughly that no matter how quickly you re-pay the loan, the lender
still gets to keep most of the interest that they would have gotten if you
had taken the full time to pay.

As out-front an example of the Golden Rule as you are likely to find.
(that is, "Thems as has the gold makes the rules")

best of luck ...

-- 
	Dr Memory
	...{decvax,ucbvax,ihnp4}!decwrl!qubix!jdb