Carmens Beauty Salon has estimated monthly financing requirements for the next six months as follows: January $ 8,700 April $ 8,700 February 2,700 May 9,700 March 3,700 June 4,700 Short-term financing will be utilized for the next six months. Projected annual interest rates are: January 6 % April 13 % February 7 May 12 March 10 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