Answer:
9.61%
Explanation:
Computation for the weighted-average interest rate
Using this formula
Weighted-average interest rate=Total Interest amount /Total Principal amount
Particular Principal Interest
9%, 5-year note payable $2,088,000 $187,920
10%, 4-year note payable $3,308,700 $330,870
Total $5,396,700 $518,790
Total Principal amount =$5,396,700
Total Interest amount =$518,790
Let plug in the formula
Weighted-average interest rate=$518,790/$5,396,700
Weighted-average interest rate=0.0961*100
Weighted-average interest rate=9.61%
Therefore Weighted-average interest rate is 9.61%
