78-нің қағидасы: Несиедегі жылдық пайыз есебінің әдісі

Also known as the "Sum of the Digits" method, the Rule of 78s is a term used in lending that refers to a method of yearly interest calculation. The name comes from the total number of months' interest that is being calculated in a year (the first month is 1 month's interest, whereas the second month contains 2 months' interest, etc.). This is an accurate interest model only based on the assumption that the borrower pays only the amount due each month. The outcome is that more of the interest is apportioned to the first part or early repayments than the later repayments. As such, the borrower pays a larger part of the total interest earlier in the term. If the borrower pays off the loan early, this method maximizes the interest paid by applying funds to the interest before principal. The Rule of 78 is designed so that borrowers pay the same interest charges over the life of a loan as they would with a loan that uses the simple interest method. But because of some mathematical quirks, they end up paying a greater share of the interest upfront. That means if they pay off the loan early, they would end up paying more overall for a Rule of 78s loan compared with a simple interest loan.

The Rule of 78s deals with precomputed loans, which are loans whose finance charge is calculated before the loan is made. Finance charge, carrying charges, interest costs, or whatever the cost of the loan may be called, can be calculated with simple interest equations, add on interest, an agreed upon fee, or any disclosed method. Once the finance charge has been identified, the Rule of 78s is used to calculate the amount of the finance charge to be rebated (forgiven) in the event that the loan is repaid early, prior to the agreed upon number of payments. It should be understood that with precomputed loans, a borrower not only owes the lender the principal amount borrowed, but the borrower owes the finance charge as well. If $10,000 is lent and the precomputed finance charge is $3,000, the borrower owes the lender $13,000 at the time the loan is made, whereas a simple interest borrower owes the lender only the $10,000 principal and monthly interest on the unpaid principal. A simple explanation would be as follows: suppose that the total finance charge for a 12 month loan was $78.00. This figure is representative of the sum of digits by adding the numbers together, i. e., 12,11,10,9,8,7,6,5,4,3,2,1 = 78. If a person repaid a consumer loan after 3 months, the financial institution would not charge interest the sum of the "remaining" digits i. e., 9,8,7,6,5,4,3,2,1 = $45.00, and would only retain the first three numbers 12,11,10 or $33.00. Thus the consumer's benefit is less than if it were divided equally by 12 months ($6.50 per month), but is equal to the amount of interest that would be saved under the simple interest method.