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Check Carmen's Beauty Salon has estimated monthly financing requirements for the next six months as follows: January February March $9,100 3,100 4,100 April May June

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Check Carmen's Beauty Salon has estimated monthly financing requirements for the next six months as follows: January February March $9,100 3,100 4,100 April May June $ 9,100 10,100 5,100 Short-term financing will be utilized for the next six months. Projected annual interest rates are: January February March 5.00 6.05 9.05 April May Jane 12.00 12.00 12.05 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 6-1. 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.) Tatal delle interest payments b-2. 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 Smaller

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