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Carmen's Beauty Salon has estimated monthly financing requirements for the next 5 ix months as follows: Short-term financing will be utilized for the next six

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Carmen's Beauty Salon has estimated monthly financing requirements for the next 5 ix months as follows: Short-term financing will be utilized for the next six months. Projected annua/ interest rates are: a. Compute total dollat 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 of 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 ot 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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