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Expenditure | X | Weight | = | Average | |
Jan 1,2021 | $ 8,20,000 | X | 12/12 | = | $ 8,20,000 |
March 31, 2021 | $ 14,20,000 | X | 9/12 | = | $ 10,65,000 |
June 30, 2021 | $ 10,64,000 | X | 6/12 | = | $ 5,32,000 |
September 30, 2021 | $ 8,20,000 | X | 3/12 | = | $ 2,05,000 |
December 31, 2021 | $ 6,20,000 | X | 0 | = | $ - |
$ 47,44,000 | $ 26,22,000 | ||||
Average | Interest rate | Capitalized interest | |||
Average accumulated expenditure | $ 26,22,000 | ||||
Construction loan | $ 20,00,000 | X | 13% | = | $ 1,95,000 |
Other loans | $ 6,22,000 | X | 15.5% | = | $ 72,308 |
Interest Capitalized in 2021 | = | $ 2,67,308 | |||
Weighted Average rate of all debt:- | |||||
$ 50,00,000 | X | 17% | = | $ 8,50,000 | |
$ 30,00,000 | X | 13% | = | $ 3,90,000 | |
$ 80,00,000 | $ 12,40,000 | ||||
Weighted Average rate of all debt = | 15.5% | ||||
($1240000/ $8000000) |
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