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Carmen's Beauty Salon has estimated monthly financing requirements for the next six months as follows January 9,200 April S 9,200 February 3,200 May 10,200 March

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Carmen's Beauty Salon has estimated monthly financing requirements for the next six months as follows January 9,200 April S 9,200 February 3,200 May 10,200 March 5,200 4,200 June Short-term financing will be utlized for the next six months. Projected annual interest rates are 13% JanuaryMay 6% April February 7May 10 June 12 12 March What long-term Interest rate would represent a break-even point between using short-term financing and long-term financing 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) Interest rate

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