# Average Interest Rate Calculator

Use our Average Interest Rate Calculator to find your weighted average interest rate, total interest, and this month's payment quickly and accurately.

**Weighted Average Interest Rate**0%

**Total Principal**$0

**This Month's Interest Payment**$0

## How to Use the Calculator

Enter the **Name** of each creditor (optional) for your reference. This step is not required, so you can leave it blank if you prefer.

For average interest rates, simply fill in the **APR** field and leave the balance field empty.

To calculate weighted average interest rates, enter both the **APR** and the **Balance** of each loan.

The calculator will automatically generate more input fields as needed, allowing you to account for multiple loans.

Once done, review your results to see the average interest rate, weighted average, total interest, and this month's payment.

## Average Interest Rate Formula

The average interest rate is found by summing the APRs of all loans and then dividing by the number of loans.

**Formula:** (APR1 + APR2 + ...) / Number of Loans

## Weighted Average Interest Rate Formula

The weighted average interest rate is calculated by multiplying each loan's APR by its balance, summing these results, and then dividing by the total balance of all loans.

**Formula:** (APR1 × Balance1 + APR2 × Balance2 + ...) / (Balance1 + Balance2 + ...)

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