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Check my Carmen's Beauty Salon has estimated monthly financing requirements for the next six months as follows: January February March $10,500 4,500 5,500 April May

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Check my Carmen's Beauty Salon has estimated monthly financing requirements for the next six months as follows: January February March $10,500 4,500 5,500 April May Dune $19,500 11,500 6,500 Short-term financing will be utilized for the next six months. Projected annual interest rates are: January February March 9.0% 10.0% 13.0% April May June 16.0% 12.0X 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 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? ov

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