Calculating Actual Interest and Weighted Average Interest Rate Weighted average accumulated expenditures are $200,000 on a project for which work steadily progressed during the current year The following debt was outstanding during the current year Construction loan $50,000 at 10 Note payable $200,000 at 8 Mortgage payable $75,000 at 12 a Compute the total actual interest expense for the current year b Compute the weighted average interest rate on the general debt Round percentages to two decimal places (for example, enter 2 05 for 2 04555 ) Answer

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Question: Calculating Actual Interest and Weighted Average Interest Rate Weighted average accumulated expenditures are $200,000 on a project for which work steadily progressed during the current

Calculating Actual Interest and Weighted Average Interest Rate

Weighted average accumulated expenditures are $200,000 on a project for which work steadily progressed during the current year. The following debt was outstanding during the current year.

Construction loan		$50,000 at 10%
Note payable		$200,000 at 8%
Mortgage payable		$75,000 at 12%

a. Compute the total actual interest expense for the current year. b. Compute the weighted average interest rate on the general debt. Round percentages to two decimal places (for example, enter 2.05 for 2.04555%). Answer%

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