Calculating Actual Interest and Weighted Average Interest Rate Weighted average accumulated expenditures are $960,000 on a project for which work steadily progressed during the current year. The following debt was outstanding during the current year. Construction loan $240,000 at 10% Note payable $1,200,000 at 8% Mortgage payable $360,000 at 12% a. Compute the total actual interest expense for the current year. $ b. Compute the weighted average interest rate on the general debt. Calculation of weighted average interest rate General Debt $ Numerator + Denominator = $ Rate % Check