Answer :
Answer:
The weighted average interest rate that Colgate faced on its short-term borrowings in 2013 was:
2.2%.
Explanation:
Colgate Palmolive reported on page 62 of its 10-K annual report for the fiscal year ended December 31, 2013, that "the weighted-average interest rate on short-term borrowings of $13 in 2013 and $54 in 2012 included in Notes and loans payable in the Consolidated Balance Sheets as of December 31, 2013 and 2012 was 2.2% and 1.0% respectively."
The weighted average interest rate is a product of the different interest rates on its short-term borrowings with their proportional weights. The weights help in determining the average interest rate given their proportional sizes to the total interest expense.