alleryStart learning →General loans: $2,000,000 at 6% and $3,000,000 at 8%. Weighted average rate?
A6.8%
B7.0%
C7.2%
D7.5%
Answer & Solution
Correct answer: C. 7.2%
Interest of 120,000 plus 240,000 over 5,000,000 of loans gives 7.2%.
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