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Solve the problem using the rule of 78. Dallas Wright took out a 48-month fixed installment loan of $6250 to purchase a new all-terrain vehicle

Solve the problem using the rule of 78. Dallas Wright took out a 48-month fixed installment loan of $6250 to purchase a new all-terrain vehicle (ATV). He began making monthly payments of $218.75. Instead of making his 28th payment, Dallas decides to repay his loan in full. How much interest will Dallas save?

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