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Carmen's Beauty Selon has estimated monthly financing requirements for the next six months as follows: Short-term financing will be utilized for the next six months.

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Carmen's Beauty Selon has estimated monthly financing requirements for the next six months as follows: Short-term financing will be utilized for the next six months. Projected annual interest rates are: a. Compute total dollar interest payments for the six months. Note: Round your monthly interest rate to 2 decimal places when expressed as a percent. Round your interest payments to the nearest whole cent. b-1. Compute the total dollar interest payments if long-term financing at 12 percent had been utilized throughout the six months? Note: Round your monthly interest rate to 2 decimal places when expressed as a percent. Round your interest payments to the nearest whole cent. b-2. If long-term financing at 12 percent had been utilized throughout the six months, would the total-dollar interest payments be larger or smaller than with the short-term financing plan? Larger Smalier

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