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#### DarkProtoman

Guy gets a $20000 loan at 8% annually for 60 months

Wins lottery and pays it off in 6 months.

Lender gives him a rebate that turns out to be $44 less then he

should've gotten, by using the rule of 78.

Here the article:

http://www.bankrate.com/brm/news/dollardiva/19991012a.asp

I don't quite get the rule of 78. How did they calculate the rebate?

What IS the rebate? This article leaves me with more questions than

answers. Can you please explain? Thanks!!!!!