Patience’s employer provided her with an interest-free loan so that she could purchase à season ticket for the train to work. The balance of the loan outstanding at 6 April 2021 was £18,000, and Patience repaid the loan in full on 31 December 2021.
Hello sir. I am unable to calculate interest through average method. 18000 x 2% x 9/12= 270 Is this correct way?