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Show HILL TOP TIMES Page 30 Friday, October 15, 1982 posse for pres5deini1i,s Base worker vosoil1 to the Hooper Park for the picnic he president was so pleased that he inattended. Four other members of the vited Mr. Greiner and Captain Story posse formed a color guard behind the to meet with him after his speech president as the captain of the posse, where he presented them both a tie Brent Story, and Mr. Greiner bar with the presidential seal and his presented President Reagan with an autograph on it. The president also Early in September a member of the Weber County Sheriff's Posse, Ed Greiner, was called by a presidential aide who asked if the posse would provide an honor guard for President Reagan's trip to Ogden on Sept. 10. Mr. Greiner, a computer programmer in ACDMO-- 1 (Data Automation at Hill AFB), was instrumental in getting the honor guard organized for official Weber County Sheriff's Posse badge and hat. A smaller version of the badge was presented to the president for his wife Nancy, who did not members of the posse were involved in the event. Nineteen of the men on horseback formed an honor guard on each side of the street when the president's motorcade came President Reagan was appreciative and commented several times on the warm reception he had received while in the Ogden area and how wonderful the people had been to work with. The presented Mr. Greiner with a stick pin with the presidential seal on it for his ' ' wife. Two other members of the posse, Scott Peterson and Rod Peterson, are Hill employees. All in all it was a very attend the event. this special day. Twenty-thre- e Si exciting day for Mr. Greiner, who later received a picture taken of him and President Reagan. Ed Greiner 'Rule of 78s' determines interest charges on installment loans are significantly the half the months the interest hear the the months in a We frequently expression "Rule of 78s" mentioned in discussion of interest rates and installment loans. Indeed, this term often appears in loan contract agreements. So what is it? The "Rule of 78s" is a simple year penalty identified in the loan contract. One such prepayment penalty is the "Rule of 78s." The "Rule of 78s" works like this. If you add the numbers representing smaller than in the earlier months. Should you avoid loan contracts which include the "Rule of 78s"? If you foresee a strong possibility of paying the loan early, you should stay away from it. If the chances of early repayment are slim, you'll lose nothing because of it. But, don't base your loan decision just on this. There are many other factors to consider. The most important is the basic interest rate itself. If you are not shopping around for the best credit deal, you are doing yourself a disservice. Interest rates aren't all the same. Don't be afraid to ask. You'll be better off in the long run. through 12) the total is 78. When the rule is used, the borrower pays 1278 of the total interest due during the first month of the contract. This fracIn six months, you will have been tion becomes smaller each month (1278, 1178, 1078, etc.) until the last charged $73 interest out of the total month which will be l78th of the total of $100. This is computed as follows: 1278 plus 1178 plus 1078 plus 978 interest due. 878 plus 778 equals 5778 or 73 For example, consider a loan of plus percent of the total interest due. $1,000 for 12 months at 10 percent Seventy-thre- e percent of $100 is $73. simple interest, plus a $10 service Your total payment for six months charge. This makes a total loan of would be $1,083 ($1,000 principal plus $1,110 ($1,000 principal plus $100 in$73 interest plus $10 service charge). terest plus $10 service charge). If the loan is paid according to Obviously, the longer an installamount entire loan of this type is carried, the will the ment pay termsyou of interest. However, if you paid the less advantageous it will be to repay loan in only six months, you might ex it early. Interest charges over the last . device for determining interest charges on some loans. Loan agreements generally call for equal payments over a given amount of time. Loans paid off early save you money since interest is charged only for the period the money is actually borrowed. However, interest savings can be offset by any prepayment - . . AF Suggestion Program: It's loan of of would be pect of total due. If the "Rule 78s" is included in your contract, this would not be true. (1, . 2, 3, etc. . . (LOGNEWS) better than ever! See page 17. 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