Ended December 31 (in millions)	2018	2017	2016
Interest expense	$(241)	$(229)	$(233)
Weighted average borrowing rate	3.60%	3.80%	4.00%
Cash paid for interest	$(262)	$(235)	$(233)

The price of the Boston Scientifics bonds in February 2019 follows. Interpreting Debt Footnotes on Interest Rates and Interest Expense Boston Scientific discloses the following as part of its longterm debt footnote in its December 31, 2018 10K.

Borrowings and Credit Agreements
						Semi-
						annual
In millions, except				As of December 31,	Coupon
interest rates		Issuance Date	Maturity Date	2018	2017	Rate
January 2020 Notes		December 2009	January 2020	$850	$850	6.00%
May 2020 Notes		May 2015	May 2020	600	600	2.85%
May 2022 Notes		May 2015	May 2022	500	500	3.38%
October 2023 Notes		August 2013	October 2023	450	450	4.13%
May 2025 Notes		May 2015	May 2025	750	750	3.85%
March 2028 Notes		February 2018	March 2028	1,000		4.00%
November 2035 Notes		November 2005	November 2035	350	350	7.00%
January 2040 Notes		December 2009	January 2040	300	300	7.38%
Unamortized debt insurance discount and deferred
financing cost			20202040	(29)	(24)
Unamortized gain on fair value hedge			20202025	26	38
Capital lease obligation			Various	6	1
Long-term debt				$4,803	$3,815

(1) Corporate credit rating improvements may result in a decrease in the adjusted interest rate on our November 2035 Notes to the extent that our lowest credit rating is above BBB or Baa3. The interest rates on our November 2035 notes will be permanently reinstated to the issuance rate if the lowest credit ratings assigned to these senior notes is either A- or A3 or higher. Boston Scientific discloses its required principal debt repayments due during each of the next five years and thereafter.

In millions
2019	$2,136
2020	1,540
2021	-
2022	500
2023	450
Thereafter	2,400

Boston Scientific also discloses the following information. Interest Expense The following table provides a summary of our Interest expense and average borrowing rate:

				Moodys Rating
Maturity date	Coupon	Current Price	Current Yield	(02/21/2019)
2028	4.00%	109.35	2.80%	Baa2
2023	4.13%	101.57	2.41%	Baa2

Required b. What is the total amount of Boston Scientifics longterm debt at December 31, 2018, including the current maturities?

The answer is not 4803 or the sumation of all debts c. The companys balance sheet reports shortterm debt including current maturities of $2,140 million and $1,711 million in 2018 and 2017, respectively. Compute the average effective interest rate on the companys total debt for fiscal 2018. Compare this to the average interest rate the company reports. Note: Do not round until your final answer. Note: Round your final percentage answer to one decimal place (for example, enter 6.7% for 6.6555%).

Computed average effective interest rate	?
Company's reported average interest rate	3.6