# Finance Act 2004, Paragraph 4


“The required amount”, in relation to a period beginning with the date on which the loan is made and ending with the last day of a loan year, is—
L+TIPTLY×NLYwhere—
L is the amount of the loan,
TIP is the total interest payable on the loan,
TLY is the total number of loan years, and
NLY is the number of loan years in the period.

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Source: https://www.legislation.gov.uk/ukpga/2004/12/schedule/30/paragraph/4 (the official version)
Page: https://openlegislation.uk/finance-act-2004/schedule-30/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.