Please compute the average effective rate on the company's total debt for 2018. The answer is not 3.8% or 4.6%

(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 $1,911 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: Year Ended December 31 (in millions) 2018 2017 2016 Interest expense $(241) $(229) $(233) Weighted average borrowing rate 3.609 3.809 4.00% Cash paid for interest $(262) $(235) $(233) The price of the Boston Scientific's bonds in February 2019 follows. Moody's Rating Maturity date Coupon Current Price Current Yield (02/21/2019) 2028 4.00% 109.35 2.80% Baa2 2023 4.139 101.57 2.41% Baa2 Required 1 a What amount of Boston Scientific's long-term debt is due in 2019? $ 1.911 million The price of the Boston Scientific's bonds in February 2019 follows. Moody's Rating Maturity date Coupon Current Price Current Yield (02/21/2019) 2028 4.0096 109.35 2.809 Baa2 2023 4.13% 101.57 2.41% Baa2 Required a. What amount of Boston Scientific's long-term debt is due in 2019? $ 1,911 million b. What is the total amount of Boston Scientific's long-term debt at December 31, 2018, including the current maturities? $ 6,714 million c. The company's balance sheet reports short-term debt including current maturities of $1,915 million and $1,531 million in 2018 and 2017, respectively. Compute the average effective interest rate on the company's 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 % Previous A Save Answers Next (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 $1,911 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: Year Ended December 31 (in millions) 2018 2017 2016 Interest expense $(241) $(229) $(233) Weighted average borrowing rate 3.609 3.809 4.00% Cash paid for interest $(262) $(235) $(233) The price of the Boston Scientific's bonds in February 2019 follows. Moody's Rating Maturity date Coupon Current Price Current Yield (02/21/2019) 2028 4.00% 109.35 2.80% Baa2 2023 4.139 101.57 2.41% Baa2 Required 1 a What amount of Boston Scientific's long-term debt is due in 2019? $ 1.911 million The price of the Boston Scientific's bonds in February 2019 follows. Moody's Rating Maturity date Coupon Current Price Current Yield (02/21/2019) 2028 4.0096 109.35 2.809 Baa2 2023 4.13% 101.57 2.41% Baa2 Required a. What amount of Boston Scientific's long-term debt is due in 2019? $ 1,911 million b. What is the total amount of Boston Scientific's long-term debt at December 31, 2018, including the current maturities? $ 6,714 million c. The company's balance sheet reports short-term debt including current maturities of $1,915 million and $1,531 million in 2018 and 2017, respectively. Compute the average effective interest rate on the company's 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 % Previous A Save Answers Next