Weighted average cost of capital Personal Finance Problem John Dough has just been awarded his degree in business. He has three education loans outstanding. They all mature in 5 years and he can repay them without penalty any time before maturity. The amounts owed on each loan and the annual interest rate associated with each loan are given in the following table John can also combine the total of his three debts (that is, 564,000) and create a consolidated loan from his bank. His bank will charge an annual interest rate of 5.9% for a period of 5 years. Should John do nothing (leave the three individual loans as is) or create a consolidated loan (the 564,000 question)? The weighted average annual interest rate on John's current loan portfolio is % (Round to two decimal places.) Data Table - X (Click on the Icon here in order to copy the contents of the data table below into a spreadsheet) Loan 1 Balance due $24,000 $10,000 $30,000 Annual interest rate 7.1% 10.1% 6.1% 2 3 Print Done Enter your answer in the answer box and then click Check Answer 1 part remaining Clear All Check