Use the rule of 78 . Household Lighting Company borrowed $\$ 2450$ to purchase items from another store that was going out of business. The loan required 12 monthly payments of \$227.00. After 7 payments were made, the company decided to pay off the loan. How much interest was saved? By paying off the loan early, Household Lighting Company saved S.

Step 1 ：Household Lighting Company borrowed $2450 to purchase items from another store that was going out of business. The loan required 12 monthly payments of $227.00. After 7 payments were made, the company decided to pay off the loan. We are asked to find out how much interest was saved.

Step 2 ：We use the rule of 78 to solve this problem. The rule of 78 is a method of allocating the interest charge on a loan across its payment periods. It's a kind of 'precomputed loan' where the interest is determined ahead of time. The sum of the digits 1 through 12 is 78. Each digit represents a month in a 12-month year. The number 12 represents the first month, 11 the second month, and so on, down to 1 representing the last month. The interest for each month is then calculated as that month's digit divided by 78 times the total interest.

Step 3 ：The total interest paid over the life of the loan can be calculated as the total payments minus the loan amount. In this case, the total interest is $274.

Step 4 ：The interest saved by paying off the loan early can be calculated as the sum of the interest for the remaining months. The interest for each month is calculated as follows: [42.15384615384615, 38.64102564102564, 35.128205128205124, 31.615384615384617, 28.102564102564102, 24.58974358974359, 21.076923076923077, 17.564102564102562, 14.051282051282051, 10.538461538461538, 7.0256410256410255, 3.5128205128205128].

Step 5 ：By adding up the interest for the remaining months, we find that the interest saved is approximately $52.69.

Step 6 ：Final Answer: \(\boxed{52.69}\). The amount of interest saved by Household Lighting Company by paying off the loan early is approximately $52.69.