Question: Weighted average accumulated expenditures are $ 3 2 0 , 0 0 0 on a project for which work steadily progressed during the current year.

Weighted average accumulated expenditures are $320,000 on a project for which work steadily progressed during the current year. The following debt was outstanding during the current year.
Construction loan$80,000at10%Note payable$400,000at8%Mortgage payable$120,000at12%
a. Compute the total actual interest expense for the current year. $Answer 1
b. Compute the weighted average interest rate on the general debt.

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