Carmen$$s Beauty Salon has estimated monthly financing requirements for the next six months as follows:

January $ $8,800$ April $ $8,800$

February $2,800$ May $9,800$

March $3,800$ June $4,800$

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

January $7\%$ April $14\%$

February $8\%$ May $12\%$

March $11\%$ June $12\%$

What long$-$term interest rate would represent a break$-$even point between using short$-$term financing and long$-$term financing? $\_\_\%$ intrest rate

Note: 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.