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Carmen's Beauty Salon has estimated monthly financing requirements for the next six months as follows: January 8,100 April 8,100 2.100 May February 9,100 4,100 March
Carmen's Beauty Salon has estimated monthly financing requirements for the next six months as follows: January 8,100 April 8,100 2.100 May February 9,100 4,100 March 3.100 June Short-term financing will be utilized for the next six months. Projected annual interest rates are 12.0% January 5.0% April February 6.0% May March 9.0% June 12,0% 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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