How do I calculate a blended interest rate for multiple loans?

Hi everyone,

I'm working on a financial illustration in Illustrator and need to calculate a blended interest rate from multiple loans with different balances and rates.

For example:

• Loan A: $50,000 at 5.25%

• Loan B: $30,000 at 6.75%

• Loan C: $20,000 at 4.90%

I know I can't simply average the percentages because each loan has a different balance.

Is there an easy way to calculate the correct weighted/blended rate without doing all the math manually every time?

Thanks in advance!