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  • FIRST POST
    • FunLovinCriminal
    • By FunLovinCriminal 9th Oct 17, 2:19 PM
    • 351Posts
    • 403Thanks
    FunLovinCriminal
    Help Me Maths Wizards
    • #1
    • 9th Oct 17, 2:19 PM
    Help Me Maths Wizards 9th Oct 17 at 2:19 PM
    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
    Mortgage: 01/02/14 - £108k
    Mortgage: Current - £97k
    Mission: MF by 50
Page 1
    • Tom99
    • By Tom99 9th Oct 17, 3:46 PM
    • 682 Posts
    • 407 Thanks
    Tom99
    • #2
    • 9th Oct 17, 3:46 PM
    • #2
    • 9th Oct 17, 3:46 PM
    £80,000 x interest% divide by 12 = Monthly Interest
    • getmore4less
    • By getmore4less 9th Oct 17, 3:54 PM
    • 30,821 Posts
    • 18,429 Thanks
    getmore4less
    • #3
    • 9th Oct 17, 3:54 PM
    • #3
    • 9th Oct 17, 3:54 PM
    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
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