Debt consolidation example 7 24-17
- 2. Calculating Weighted Averages:
Weighted Average Interest Rate:
12,808/119,826 = .1069 x 6.13% = 0.6552
58,167/119,826 = .4585 x 6.39% = 3.1019
11,518/119,826 = .0961 x 13.68% = 1.3146
37,333/119,826 = .3116 x 10.14% = 3.1592
Weighted Average Interest Rate = 8.2309%
Weighted Average Remaining Amortization:
14/163 = .0859 x 14 = 1.2026
61/163 = .3742 x 61 = 22.8282
48/163 = .2945 x 48 = 14.1350
40/163 = .2454 x 40 = 9.8160
Weighted Average Term Months (rounded) = 48.00