Carmen's Beauty Salon has estimated monthly financing requirements for the next six months as follows:...
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Carmen's Beauty Salon has estimated monthly financing requirements for the next six months as follows: January February March $8,500 April 2,500 May 3,500 June Short-term financing will be utilized for the next six months. Projected annual interest rates are: January 9.0% February 10.0% March 13.0% Interest rate $8,500 9,500 4,500 April May June 16.0% 12.0% 12.0% What long-term interest rate would represent a break-even point between using short-term financing and long-term financing? (Round your monthly interest rate to 2 decimal places when expressed as a percent. Round your interest payments to the nearest whole cent. Input your answer as a percent rounded to 2 decimal places.) %
Carmen's Beauty Salon has estimated monthly financing requirements for the next six months as follows: Short-term financing will be utilized for the next six months. Projected annual interest rates are: What long-term interest rate would represent a break-even point between using short-term financing and long-term financing? (Round your monthly interest rate to 2 decimal places when expressed as a percent. Round your interest payments to the nearest whole cent. Input your answer as a percent rounded to 2 decimal places.)
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