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4 thoughts on “rule-of-78s-loan-calculator

  1. It is very helpful to be able to change the date format, thank you – would it also be possible to change the financial year format – presently this shows as calendar year but we need financial year July to June. Also, being able to set the commencement date would be beneficial – in this case, the calculator has assumed that the first payment date will be the 1st of June when it will actually be commencing in May.

    • The amortization schedule calculator will allow you to set the loan date and the first payment date. The Rule-of-78s is an option under Amortization Method

      And this is where I get to plug one of the commercial programs. 🙂

      The C-Value! program will let you save a schedule and let you change the start of the fiscal year. Same for SolveIT!. They are $19.95 and $24.95 respectively.

  2. Banks applying this rule are increasing their income in the beginning while constantly reducing lesser to lesser to the following periods. This will impact profitability uniformity to of the loan amount, i.e. good harvest in the start and low return in subsequent years.

  3. The above number looks like constant instalment

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