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Carmen's Beauty Salon has estimated monthly financing requirements for the next six months as follows: $ 10,000 April 4,000 5,000 January February March January February March May June Short-term financing will be utilized for the next six months. Projected annual interest rates are: 9.0% April May 10.0% 13.0% June $ 10,000 11,000 6,000 Total dollar interest payments 16.0% 12.0% 12.0% a. Compute total dollar interest payments for the six months. Note: Round your monthly interest rate to 2 decimal places when expressed as a percent. Round your interest payments to the nearest whole cent. b-1. Compute the total dollar interest payments if long-term financing at 12 percent had been utilized throughout the six months? Note: Round your monthly interest rate to 2 decimal places when expressed as a percent. Round your interest

Short-term financing will be utilized for the next six months. Projected annual interest rates are: a. Compute total dollar interest payments for the six months. Note: Round your monthly interest rate to 2 decimal places when expressed as a percent. Round your interest payments to the nearest whole cent. b-1. Compute the total dollar interest payments if long-term financing ot 12 percent had been utilized throughout the six months? Note: Round your monthly interest rate to 2 decimal places when expressed as a percent. Round your interest b-1. Compute the total dollar interest payments if long-term financing at 12 percent had been utilized throughout the six months? Note: Round your monthly interest rate to 2 decimal places when expressed as a percent. Round your interest payments to the nearest whole cent. b-2. If long-term financing at 12 percent had been utilized throughout the six months, would the total-dollar interest payments be larger or smaller than with the short-term financing plan? Larger Smaller Short-term financing will be utilized for the next six months. Projected annual interest rates are: a. Compute total dollar interest payments for the six months. Note: Round your monthly interest rate to 2 decimal places when expressed as a percent. Round your interest payments to the nearest whole cent. b-1. Compute the total dollar interest payments if long-term financing ot 12 percent had been utilized throughout the six months? Note: Round your monthly interest rate to 2 decimal places when expressed as a percent. Round your interest b-1. Compute the total dollar interest payments if long-term financing at 12 percent had been utilized throughout the six months? Note: Round your monthly interest rate to 2 decimal places when expressed as a percent. Round your interest payments to the nearest whole cent. b-2. If long-term financing at 12 percent had been utilized throughout the six months, would the total-dollar interest payments be larger or smaller than with the short-term financing plan? Larger Smaller

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