Loan repayments F7

Hello Mike Thank you so much for your lectures and notes. I have gone all the way through them and am now doing the Mini exercises in the back. I cannot follow this one from p214 of the notes with the answer below as well; The company issued a $25 million 6% loan note on 1 October, 2011. Issue costs were $1 million and these have been charged to administrative expenses. The loan will be redeemed on 30 September, 2014 at a premium which gives an effective interest rate on the loan of 8%. What finance charge will appear in the statement of profit or loss for the year 24m @ 8% = 1.92m 24m @ 6% =1.50m Difference 420,000 Dr Loan interest (finance charges) 420,000 Cr 6% loan account (liabilities) 420,000 Loan interest in the profit or loss account 192,000 6% loan on statement of financial position 24,420,000 I realise the issue costs are deducted but 24m @6% is not £1.5m should it be £25? I started on this with the December notes but the March ones have the same figures. Guidance please and thanks in advance.