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Calculate Weighted-average interest rate.
Amount | Interest expense | |
10%, 5-year, Note payable | 2417700 | 241770 |
11%, 4-year, Note payable | 3702800 | 407308 |
Total | 6120500 | 649078 |
Weighted-average interest rate = 649078/6120500 = 10.60% | ||
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