A. Carmens Beauty Salon has estimated monthly financing requirements for the next six months as follows:

January	$	9,100	April	$	9,100
February		3,100	May		10,100
March		4,100	June		5,100

Short-term financing will be utilized for the next six months. Projected annual interest rates are:

January	5.0	%	April	12.0	%
February	6.0	%	May	12.0	%
March	9.0	%	June	12.0	%

-Compute total dollar interest payments for the six months. (Round your monthly interest rate to 2 decimal places when expressed as a percent. Round your interest payments to the nearest whole cent.)

-Compute the total dollar interest payments if long-term financing at 12 percent had been utilized throughout the six months? (Round your monthly interest rate to 2 decimal places when expressed as a percent. Round your interest payments to the nearest whole cent.)

B. Carmens Beauty Salon has estimated monthly financing requirements for the next six months as follows:

January	$	10,000	April	$	10,000
February		4,000	May		11,000
March		5,000	June		6,000

Short-term financing will be utilized for the next six months. Projected annual interest rates are:

January	9	%	April	16	%
February	10		May	12
March	13		June	12

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.)