Help Me Maths Wizards

FunLovinCriminal · 9 October 2017 at 2:19PM

Hi all
I have a current thread currently running.
This is a quick questions for all you geniuses!
I currently pay £723 a month, for £80,000 mortgage.
I am inspired to eat away at this as quick as possible.
My question..
Of the £723 I pay each month, how much is interest?
How would I work it out?

My poor maths is letting me down....

Many thanks
FLC

Tom99 · 9 October 2017 at 3:46PM

£80,000 x interest% divide by 12 = Monthly Interest

getmore4less · 9 October 2017 at 3:54PM

http://www.whatsthecost.com/mortgage.aspx

it changes over time

It depends on the rate

I currently pay £723 a month, for £80,000

for the following rates the first capital payment is
1% £656
2% £590
3% £523
4% £456

Help Me Maths Wizards

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