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TeachMeFinance.com - explain rule of 78s rule of 78s -- a method used by a lender to calculate an interest rebate on a loan that is paid off, or refinanced, prior to its maturity, or for accruing earned discount. A predetermined factor is applied to the portion of total interest generated during the period in question. Also, sometimes called sum-of-the-digits method. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.