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

January $ 9,600 April $ 9,600 February 3,600 May 10,600 March 4,600 June 5,600 Short-term financing will be utilized for the next six months. Projected annual interest rates are:

January 5 % April 12 % February 6 May 12 March 9 June 12 What long-term interest rate would represent a break-even point between using short-term financing and long-term financing? (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.)