Averaging the interest rate

If you wish to know what your annual rate of interest is on a combination of mortgages, that is the tool to do it.

• Mortgage amount ( Principal ) - The amount originally borrowed from a lender.
• Annual interest rate - The amount charged by a lender to a borrower as "rent" for the use of the lender's money. Interest charges generally accrued as a percentage of the amount borrowed. The interest rate is usually quoted in percent per year.

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