Carmen's Beauty Salon has estimated monthly financing requirements for the next six months as follows: April January February March $ 9,600 3,680 4,600 May $ 9,680 12,689 5,600 June Short-term financing will be utilized for the next six months. Projected annual interest rates are: January February March 5% 6 9 April May June 12% 12 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.) Interest rate 96