Rule of 78 Formula
Equation for calculate rule of 78 is,
Refund = (U * (U + 1)) \ (T * (T + 1))*F
Where,U = Unearned period
T = Total period
F = Finance charge
U = Unearned period
T = Total period
F = Finance charge
Equation for calculate rule of 78 is,
Refund = (U * (U + 1)) \ (T * (T + 1))*F
Where,