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Carmen's Beauty Salon has estimated monthly financing requirements for the next six months as follows: January February March $10,300 April $10,300 4,300 May 11,300
Carmen's Beauty Salon has estimated monthly financing requirements for the next six months as follows: January February March $10,300 April $10,300 4,300 May 11,300 6,300 5,300 June Short-term financing will be utilized for the next six months. Projected annual interest rates are: January February March 7.0% 8.0% April May 14.0% 12.0% 11.0 % 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 payments 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 payments
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