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

January	$	8,500	April	$	8,500
February		2,500	May		9,500
March		3,500	June		4,500

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

January	9.0	%	April	16.0	%
February	10.0	%	May	12.0	%
March	13.0	%	June	12.0	%

a. 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.)

Total Dollar Interest Payment____

b-1. 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.)

Total Dollar Interest Payment____

Please answer A and B